Jushi Group delays opening of fiberglass plant in Egypt

Rebecca Kanthor
PLASTICS NEWS CHINA

Published: August 12, 2013 9:36 am ET
Updated: August 12, 2013 9:40 am ET

Related to this story

Topics Materials Materials Suppliers China Africa
Companies & Associations

Tongxiang, China-based fiberglass manufacturer Jushi Group Co. said is has delayed plans to open a factory in Egypt due to political unrest.

In an emailed statement, Jushi said the plant was originally scheduled to start in the third quarter of 2013, but it has been delayed until the fourth quarter.

The statement blamed the political situation in Egypt is still not clear. Egypt's military ousted President Mohamed Morsi in July.

Jushi has invested $220 million in the Ain Soukhna, Egypt, plant. When it opens, it will have capacity to produce 80,000 metric tons of fiberglass annually.

The plant is Jushi's first outside China, and will serve customers in the European Union, Middle East and India.

According to the company, the plant has not sustained any damage from the current political unrest. The company said it is following the political situation closely, reserving production materials and adjusting personnel arrangements.

"The continuous running of the Egyptian plant also relies on the political stability of Egypt, the stable supply of water, electricity, [natural gas] and the safety of the infrastructures," the statement said. "We will work hard to communicate with Egyptian government and Chinese embassy in Egypt to be aware of the political dynamics and ensure the plant will start commissioning in a relatively favorable external environment."

The company added it still considers the plant "a miracle in the project construction history of Egypt, as such a huge project only took a little more than one and half year to obtain all the government approvals and finalize all major works."


Comments

Jushi Group delays opening of fiberglass plant in Egypt

Rebecca Kanthor
PLASTICS NEWS CHINA

Published: August 12, 2013 9:36 am ET
Updated: August 12, 2013 9:40 am ET

Post Your Comments


Back to story


More stories

Image

Ford moving forward in carbon fiber for 'high volume' use

April 17, 2015 10:21 am ET

Ford Motor Co. has signed a deal with a carbon-fiber manufacturer to jointly explore “high-volume” automotive uses for the lightweight...    More

Image

Force majeure declared at six European sites since mid-March

April 17, 2015 1:10 pm ET

At least six European resin makers have declared force majeure on polyethylene, polypropylene and related products since mid-March, leading to higher ...    More

Image

Executives step down from Star Thermoplastics

April 17, 2015 12:56 pm ET

Executives Randall Fortin and Larry Johnson no longer are with materials firm Star Thermoplastics Alloys & Rubbers Inc.    More

Image

Zoltek expanding CF capacity in Europe

April 17, 2015 10:12 am ET

Leading carbon fiber group Zoltek Corp. has signed a strategic agreement with the Hungarian government to expand its operation in northern Hungary,...    More

Image

Hanwha Azdel adds capacity in Lynchburg

April 16, 2015 2:01 pm ET

Composite maker Hanwha Azdel Inc. will add space and a new production line at its Lynchburg, Va., production facility, the company announced April 16.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events