Automotive compounder China XD Plastics Co. Ltd. has officially launched its new production base in Sichuan province.
The company said it held a commissioning ceremony on July 7 and hosted more than 700 guests.
The initial capacity will start at 50,000 metric tons this year, but the company expects to eventually expand to 300,000 tonnes. Sales are expected to reach 1 billion yuan this year.
The company also said the total investment would amount to 2.8 billion yuan ($418.6 million) with more than 70 production lines.
Chairman and CEO Han Jie said the fully automated new plant will “diversify our product platform into additional high-growth verticals such as advanced transportation, bio-degradable materials, medical-grade materials and food packaging.
“Our plant has been designed at the highest production specifications with state-of-the-art equipment to facilitate product deployment into new growth verticals while maintaining the highest standards in quality control and batch consistency,” he added.
China XD is based in Ha'erbin, Heilongjiang province, with production facilities at the headquarters as well as in Dubai.