MEDIA RELEASE PR39700
Japan's DIC Funds Building of New Materials Project in Changzhou, China
CHANGZHOU, China, June 11 /PRNewswire-Asia-AsiaNet/ --
Resin materials used in products including ships, lighting boards, pipes, windmills, scagliola, coatings and
paints will be produced in the Changzhou National Hi-Tech District (Xinbei District), Jiangsu province. The
groundbreaking ceremony for the new facility of Changzhou Huari New Material Co., Ltd, which was funded by
Japan's DIC, was recently held in Xin Bei Industrial Park, on June 2, 2010. Wang Chengbin, Deputy Mayor of
Changzhou, and Yang Pingping, director of the Management Committee of the High-Tech district, were
among those present at the ceremony.
With a total investment of US$29.9 million and registered capital of US$15.3 million, Changzhou Huari New
Material is one of the foreign-invested enterprises that had previously been established in the city and its
portfolio includes unsaturated polyester resins, SMCs/BMCs and molded products as well as those widely
used in fiberglass reinforced plastic boats, yachts, wind turbine blades, various pipes and FRP products. The
parent company DIC is a one-hundred-year-old Japanese international company with 209 subsidiaries in 63
countries worldwide, and its offerings are widely used in the printing, automotive, electronics, residential
building, food and fiber industries.
Huari New Material relocated in November 2009 in accordance with Changzhou's urban development plans.
Covering an area of approximately 70,035 square meters, the relocated facility is expected to have a fixed
asset investment of RMB 150 million (approximately US$22 million) and will have an annual capacity of
60,000 tons of unsaturated polyester resin and 30,000 tons of SMCs/BMCs after being completed, with sales
and pre-tax profits expected to exceed RMB 1 billion (approximately US$147 million) and RMB 60 million
(approximately US$8.8 million) respectively.
Established in 1908, DIC Corporation is a major Japan-based international group, with operations including
printing inks, organic pigments, synthetic resins, petrochemicals, pharmaceutical synthesis and bio-
engineering, among others. The group has established a large number of wholly owned subsidiaries and joint
ventures in more than 60 countries and regions.
The Changzhou National Hi-Tech District is currently home to a number of leading Japanese companies,
including Denso, Fujitsu, Bridgestone, Tokyo Rope Mfg. Co., Ltd., Komatsu, OKI, ISEKI, Fuji Heavy Industries
Ltd, Fuji Seiki Co., Ltd. and Mitsubishi Heavy Industries Ltd.
Contact:
Wang Zhongliang
The Public Promotion Department
Changzhou National High-Tech District
Jiangsu Province 213022
Tel: +86-519-8512-7305
Fax: +86-519-8511-5905
Email: w_zongliang@sohu.com
SOURCE: Changzhou National Hi-Tech District
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