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Composite Holding Company and China Hi-Tech Group Corp (CHTC) signed an agreement establishing strategic alliance with the purpose of development of polymer composite materials for different sectors of industry in Russia and China. Parties will invest over 500 million dollars till 2025.
The agreement was signed during II International Composite Without Borders Conference held in the framework of Open Innovations Expo in Moscow Technopolis. Leonid Melamed, General Director of Composite Holding Company and Mr. Zhang Jie, Board of Directors Chairman of China Hi-Tech Group Corp.The idea is to create a vertically integrated company which includes all production cycles of carbon fibre based polymer composite materials: raw materials, semi-products, finished goods. The first step is to establish a joint venture aimed at composite materials production and trading, including: technical fabrics and prepregs The joint venture will be established in Shenyang, Liaoning, before end of 2014. Further steps will be made in 2015-2016. They will include joint development of CFRP based finished goods, as well as products in raw materials segment: PAN-precursor and PAN based carbon fibre.Investments into facilities and equipment for production of PAN precursor and PAN based carbon fibre, semi products i.e. technical fabrics and prepregs, as well as CFRP based finished goods in Russia and China, as expected, will top $ 500 miо by 2020-2025. As forecasted, there will be created over 1000 jobs in Russia and China."Strategic alliance of two companies will stimulate new developments of composite materials to raise demand in China and Russia and win a significant share of that business in PRC and Russia in future", said Leonid Melamed, General director of Composite Holding Company."As expected, we will develop composite business jointly and will win up to 20% of future market of carbon fibre based composite materials in China (at least 7000 tons of forecasted 35000 by 2020-2025), - said Mr. Zhang Jie, Board of Directors Chairman of China Hi-Tech Group Corp. Chinese market of carbon fibre and composite materials is the largest in the world. Its volume is more than 20% of world market. Currently, world market is 50 000 tons of carbon fibre based composite materials. Chinese market consumes over 10 000 tons of carbon fibre based polymer composite materials per annum. Application of polymer composite materials in different sectors of Chinese industry is demanded in sport industry and for production of commodities, as well as in aerospace, construction, wind energy, automotive and pressure vessels industries. As forcasted, level of consumption of composite materials in China will grow up to 35 000 tons per annum by 2020-2025.
Composite Holding Company was founded in 2009 to create a composite materials market in Russia. The vertically integrated Holding company includes a PAN fibre manufacturing facility "LLC Composite-Volokno", and State Corporation "Rosatom" high strength and high modulus CF manufacturing facilities - LLC "Argon", and LLC "ZUKM". The Holding also manages one of OJSC "Rusnano" Projects - CJSC "Prepreg-ACM" that manufactures CF-based fabrics and high quality prepregs. In the fall 2011 HCC and the Foundation of infrastructure and educational programs established LLC "Nanotechnology Centre for Composites" aimed at providing the full range of services in the area of engineering and experimental production of composite parts. Composites are used in aviation, construction, automotive, marine, and other industries. Amongst others, one of the Holding objectives is to establish a highly efficient and environmentally safe sites to manufacture carbon fibre and CF-based products on the basis of innovative continuous and discrete fibre manufacturing technologies. HCC is planning to become a leader in engineering, production and sales of the new generation composite materials, and meet the demand of Russian companies in the new generation composite materials.China Hi Tech Group Corporation, a state-owned large-scale central enterprise supervised by The State-owned Assets Supervision and Administration Commission of the State Council (SASAC), CHTC has become one of the conducting companies of the Board of Directors system practicing under the supervision of SASAC. CHTC operates its major business in three fields: textile machinery, textile production & trade, new fiber material, commercial vehicle & heavy machinery, real estate &culture creativity and finance & investment. CHTC would be the first class company with strong global competitiveness, to become the largest company with the strongest profitability and influences in the textile machinery manufacturers in the world, and one of the most significant supplier in the segment markets of the textile products & trade and new fiber material, as well as one of famous commercial vehicle suppliers and leaders of its segment markets.More information:www.hccomposite.com