Wanma Co., Ltd. plans to jointly invest in Wanma Wanhua upstream and downstream integration project with Wanhua Chemical
Views：799 Updated：2022-05-23
Wanma Co., Ltd. issued an announcement to promote the upward extension of the company's new material sector industry, realize the integrated production of upstream and downstream cable polymer materials, implement national strategies such as green, energy saving, and low carbon, improve product quality, and realize the optimization and upgrading of product structure. , cultivating a new engine for the company's innovation and development in the field of new materials, the company's subsidiary Zhejiang Wanma Polymer Materials Group Co., Ltd. (hereinafter referred to as "Wanma Polymer Group") and Wanhua Chemical Holdings subsidiary Wanhua Chemical (Fujian ) New Materials Co., Ltd. (hereinafter referred to as "Wanhua Chemical (Fujian)") plans to jointly invest in the construction of "Wanma Wanhua Upstream and Downstream Integration Project" in Jiangyin Gangcheng Economic Zone, Fuzhou City, Fujian Province.
It is reported that in order to implement the Wanma Wanhua upstream and downstream integration project, Wanma Polymer Group, Wanhua Chemical (Fujian) and the Fuzhou Jiangyin Gangcheng Economic Zone Management Committee (hereinafter referred to as the "Jiangyin Management Committee") jointly signed the "Fuqing Wanma Wanhua Upstream". Downstream Integration Project Investment Contract. According to this investment contract, Wanma Polymer Group and Wanhua Chemical (Fujian) will jointly establish Fujian Wanhua Polymer Materials Co., Ltd. In order to implement this upstream and downstream integration project, the equity of Wanma Polymer Group accounts for 60%, and the equity of Wanhua Chemical (Fujian) accounts for 40%. The total investment of the project is about 1 billion yuan.
The announcement stated that the Wanma Wanhua upstream and downstream integration project to be implemented this time has realized the seamless connection between the modified cable material and upstream petrochemical raw materials in the production process. The basic raw materials produced by Wanhua Chemical are transported to the production line of the joint venture company through pipelines, so The basic petrochemical raw materials produced by Wanhua Chemical are directly converted into cable materials, which is the most efficient production method of cable materials. The total production capacity of the Wanma Wanhua upstream and downstream integration project to be implemented this time reaches 600,000 tons. The reduction of production costs and the improvement of production efficiency can further enhance the company's profitability.
