Asia's biggest EPS producer branches into Tianjin

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Last updated at: (Beijing Time) Saturday, February 14, 2004

Asia's biggest EPS producer branches into Tianjin

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Asia's biggest Expandable Polystyrene (EPS) producer, Loyal Group from China's Taiwan Province, has been branching into north China's port city Tianjin, the group's eighth company in China's mainland.

With 29.98 million US dollars of investment, Tianjin Longqiao Chemical will have 12 million US dollars of registered capital and180,000 tons of annual production capacity.

The company plans to start production within this year.

Loyal Group was set up in Kaoshiung county of Taiwan in 1974. At first, the factory only manufactured EPS for plastics, packaging and construction industries and then started manufacturing Phenolic Resins (PF) and Furan Resin (FR) for foundry industry two years later.

China's mainland started its economic reforms around 20 years ago and the demand for plastics has been increasing. Statistics show demand for EPS will grow by 10 percent each year and hit 1 million tons in 2010 in the mainland.

The launching of Tianjin Longqiao Chemical will make Loyal Group the top EPS producer in the world with 750,000 tons of annual production, said Y. C. Liao, chairman of Loyal Group.

Loyal Group has chosen Tianjin because the municipality is hometo joint ventures of several multinationals such as Motorola, Samsung and Toyota, Liao said.

Source: Xinhua

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