Fuwei Films invests €16m in new BOPET production line
- Details
- Published on Monday, 02 May 2011 14:42
- Written by Trina Tan
CHINA – BOPET films manufacturer Fuwei Films (Holdings) Co Ltd has invested €16.45 million in equipment for a new production line for thick BOPET film from German equipment supplier Lindauer Dornier GmbH.
The line has a design annual capacity of 23,000 metric tons and can produce films of thickness ranging from 38 to 250µm that is widely used by the electronic, electrical and solar energy industries.
To be delivered sometime about2 June to 14 July next year, the production line is expected to be operational by end 2012
Pursuant to the terms of the contract between Lindauer and the Chinese converter’s subsidiary Fuwei Films (Shandong) Co Ltd, the production line has a delivery date of 2 June to 14 July 2012. The production line is expected to be operational by the end of 2012.
Shandong Fuwei and Lindauer had originally signed a contract on 2 February 2007, with a total purchase price of €12.30 million and a delivery date set forth as of the end of 2007. However, because Shandong Fuwei had been unable to pay the balance price, the contract was cancelled and construction of the production line suspended.
In 2010 though, Shandong Fuwei re-negotiated the terms and conditions of the contract with Lindauer and reached an agreement to restart the project. The building for the new production line has already been completed.
He Xiaoan, Chairman and CEO of Fuwei said, “We are pleased to announce the purchase of the new BOPET production line. This new production line will focus on thick films for electronic, electrical and solar energy industries which is an emerging market. We hope this will allow us to continue to be at the forefront of BOPET industry demand.”
About Fuwei Films
Fuwei Films conducts its business through its wholly owned subsidiary, Fuwei Films (Shandong) Co Ltd. Shandong Fuwei develops, manufactures and distributes high-quality plastic films using the biaxial oriented stretch technique, otherwise known as BOPET film (biaxially oriented polyethylene terephthalate). Fuwei's BOPET film is widely used to package food, medicine, cosmetics, tobacco, and alcohol, as well as in the imaging, electronics, and magnetic products industries.