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China - nylon maker li peng to expand capacity by 2014

China - nylon maker li peng to expand capacity by 2014 Source: www.yarnsandfibers.com
Date: 16-10-2013
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Li Peng Enterprise Co Ltd, which makes nylon products, said yesterday that it will become the world’s largest nylon maker after it completes its expansion to increase capacity by 180,000 tonnes of nylon a year next year.
 
“We are building one more production line, and after the expansion, our capacity will increase to 580,000 tonnes of nylon a year, replacing BASF SE as the world’s largest nylon maker,” Li Peng president Jonathan Lin (林文仲) told reporters yesterday on the sidelines of a press conference to introduce the Taipei Innovative Textile Application Show.
 
Li Peng will join the textile exhibition, which is to take place at the Taipei World Trade Center Nangang Exhibition Hall from today through Thursday, with 747 booths set up by 359 companies.
 
Lin expects the new production line will contribute to Li Peng’s revenue starting the third quarter next year.
 
Meanwhile, the company is also building a dying and finishing plant in Yangmei, Taoyuan County, enabling it to sell finished fabrics to its clients.
 
“Our Japanese clients can purchase fabrics directly from us and ship them to Southeast Asia,” Lin said.
 
Lin forecast that the dying and finishing plant could raise the company’s revenue by NT$10 billion (US$340 million) in 2015.
 
From January through last month, Li Peng posted revenue of NT$19.77 billion, up 0.69 percent from NT$19.63 billion a year ago, according to the company’s filing to the Taiwan Stock Exchange.
 
“We have not felt the pressure of declining market sentiment as some of our peers faced,” Lin said.
 
During the first six months of the year, the company registered a profit of NT$561.02 million, up from the losses of NT$508.08 million a year ago, when the company suffered from low nylon prices, the filing showed.
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