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Japanese Carbon Fiber Company Super Resin Inc. has formally entered into China beginning of the month.
This company is a joint venture registered in Wang Chun (Spring Sight) Industrial Park, Ningbo between Super Resin and the Chinese Shanshan Group with a registered capital of 20 million RMB in which Super Resin hold 80% shares while Shanshan holds the remaining of 20%, all investments are in cash. This company is renting a plant from Shanshan Group, and will invest a total of 40 million RMB in the purchasing of equipments, the JV agreement covers a period of 15 years with the business scope of the following four areas:1- Carbon or glass fiber reinforced plastic resins and related products research and development, manufacturing and sales.2- Carbon or glass fiber reinforced plastic-based composite materials and related products research and development, manufacturing and sales.3- Functional composite materials used in medical industry and related products research and development manufacturing and sales.4- Products sales and distribution, import and export.
The Joint Venture board are consist of five directors from Super Resin and Shanshan, Super Resin is in charge of daily operation, and Shanshan takes the responsibility to provide assistance in the market development in China, internal management, and coordination with local Government. The factory floor reinforcement and plant internal transformation has completed, and formal operation started. The Company will expand its production and invest more equipment. Within 5 years, this company will reach a production capacity of 0.8 pieces of 190 ton composite products. The targeted industries include Machinery, Medical equipment presently, as well as electric automobile frames, airplane parts, cell notepad boxes. It is expected to reach a sales of 130 million RMB by 2015 with an accumulated profit of 23 million RMB.
Original language Chinese