MOSCOW (MRC) -- Sinochem International, a leading company in the chemical sector in China, inaugurated its new compounding factory in Yangzhou on 18/8/22, said the company.
This new plant is an important milestone in Sinochem International’s industrial strategy in the field of engineering plastics. Hongsheng Liu, General Manager of Sinochem International, said: "The operation of the Yangzhou compounding plant has opened a new chapter in the industrialisation strategy of Sinochem International for ABS and modified materials.
In terms of ABS, we forecast a vigorous development in China of home appliances, electronic devices, automobiles and other relevant markets, with special focus on the mid and high-end market requirements”.
The new plant is located in the Yizheng Chemical Industrial Park, Yangzhou, and it is planned to build an annual capacity of 56,000 tons of ABS and PC modified materials in two phases. The plant will be operated by Sinochem Engineering Plastics (Yangzhou) Co., LTD., a wholly-owned subsidiary of Sinochem International Corporation.
The first phase of the project, which has just started its operations, has an annual capacity of 24,000 tons of ABS and modified materials. The second phase, with a capacity of 32,000 tons, is scheduled to start production in 2023.
In 2019, Sinochem International formally entered the ABS field through the acquisition of Europe's leading ABS and ABS blends manufacturer, ELIX Polymers (ELIX).
ELIX, headquartered in Spain, has more than 45 years of experience in the ABS business, with a strong market share in the European specialty ABS market. ELIX Polymers is an ABS and blends producer, well known and recognised as a benchmark in European and American markets. ELIX offers specialised and innovative solutions with best-in-class services across different industries such as automotive, healthcare, consumer goods, appliances, electro & electronics and toys.
The operation of the Yangzhou new factory is a relevant step forward in increasing ELIX’s global footprint, supporting its growth in the China market. Local production of ABS, PC/ABS and PC blends through Sinochem Engineering Plastics under ELIX brand, will enable the plant to serve the China market locally with innovative, high-quality, customised and sustainable products and services.
David Castaneda, ELIX Polymers CEO, said: “Today we embark on a new stage in this exciting journey together with Sinochem International to create a relevant player in the ABS global markets, and I am sure we will succeed”.
We remind, China's Shandong province has ordered its refineries, including three plants under state-run Sinochem Holdings, to self-inspect and self-rectify any irregular fuel tax practices. The move is part of a national clamp-down on smaller and mostly independently run refineries related to crude oil import quota usage and tax payments, as Beijing works to consolidate its bloated industry.