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China LUMENA New Materials Corp and DSM Engineering Plastics Company have agreed to begin a negotiation on the joint marketing efforts. The agreement will involve a variety of different levels engineering plastics. They also agreed on the joint development of polyamide PPS and 4/6 alloy material.
Both sides announced beginning of May, the two companies have made a written agreement that they wil l "further search for potential cooperation opportunities" in Chinese marketing and sales of DSM Stanyl polyamide materials. The will also work together on the sales of LUMENA Haton brand PPS in foreign markets, and actively explore other areas.
LUMENA chairman and executive director Zhang Zhigang said in a statement: "We believe that this cooperation will help us to expand influence in overseas markets and attract much larger consumer groups and expand our source of revenue."
LUMENA is a polyphenylene sulfide resin manufacturer with its headquarters located in Sichuan Chengdu. It claims to be the world 's largest producer of PPS resin. The company said, PPS is the Chinese government one of the supported materials during the Twelfth Five Year Plan.
Listed on the Hong Kong Stock Exchange, LUMENA is currently expanding its PPS resin and fiber production. The production capacity is expected to reach about 55000 tons resin by the end of this year. And the fiber production capacity will reach 20000 tons. The company is also preparing to add 25000 tons of resin capacity in the second half of 2013.
In April 2nd, LUMENA released earnings statement said, the 2011 sales soared 133% reach $715 millions USD. This is mainly due to the completion of the takeover of Sino Polymer New Materials Co. Ltd. The acquired company's sales were also incorporated into the 2011 financial performance. According to LUMENA, with this acquisition, the company’s PPS production capacity ranks first in the world.
LUMENA 2011 profit amounts to $196 millions USD, an increase of 72%.
LUMENA predicts, Chinese PPS market will grow with an annual growth rate of 20%. The production capacity will grow from 40000 tons in 2010 to 100000 tons in 2015.
The company said, at present China still has about half of the PPS needs to rely on imports. The main import countries are the United States and Japan. But the Japan March earthquake in 2011 has brought golden opportunities for the Chinese manufacturing business to seize market.
More information: www.lumena.hk
Original languange Chinese