China's coal-based PVC producer Xinjiang Tianye Co. Ltd. announced the addition of new capacity and a hike in net profit.
The publicly listed company said its new 400,000-metric-ton PVC project came on stream on Oct. 6 and passed product quality test. The company now claims annual capacity of 1.1 million metric tons of PVC.The company employs the calcium carbide process in its PVC production.In an Oct. 25 filing, Xinjiang Tianye reported that the first nine months of this year saw net profit increase more than ten fold, compared to the same period of 2009, to 110 million yuan (US$16.5 million). The rapid growth was attributed to rising product price and export. The company expects the growth to continue into the four quarter.SEARCH
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PVC maker reports growth