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The Board Meeting of Miracle Logistics Company Ltd decided on the dissolution and liquidation of its subsidiary of Wuxi Miracle Zhufeng Technology Co., Ltd. (Miracle Zhufeng).
Miracle Zhufeng was established in 2006, main business is the R & D of bamboo composite wind turbine blades. The Miracle Logistics project feasibility study report claimed that domestic wind turbine blade factory mainly produces fiberglass blades, bamboo composite blades is the "world's first" with a wide range of raw materials sources, low cost, less initial investment, environmental friendly, energy efficient, and easier to apply for CDM financial support.
Now, after a wind farm operation, the composite wind turbine blades exposed quality problems, involving compensation for losses. Initially take into account the application of any new technologies need time to verify, except the 800kW blade order, the company has been in a shutdown state for many years so the board decided to dissolve and liquidate Mircale Zhufeng.
Since 2006, Miracle Logistics has focused on the development of wind power industry. In the first half of last year, wind power products and spare parts sales operating income reached 185 million Yuan accounting for 28% of the first half of last year revenue, its bamboo composite wind turbine blades use to be very hot in the market.
Original language: Chinese