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Vsf to guide sateria's profit in h2

Vsf to guide sateria's profit in h2 Source: www.chinatexnet.com
Date: 19-12-2013
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Given the fast growing market demand for viscose staple fibre (VSF), a man-made, biodegradable fibre with characteristics akin to cotton, Hong Kong-listed specialty cellulose producer Sateria is trying to put the VSF fabric production ahead both for export and domestic garmenting units' use.
 
Keeping in mind the potential of the VSF fabric fetching higher value in the export market, especially in fashion garmenting, Sateria has decided to continue its ongoing strategy to further penetrate into the specialty-grade VSF segment, which has more stable pricing.
 
The increased export of finished VSF fabrics or their use by the global garment units would mean more value and a widened market for Sateri, which has to find market for its 360,000 metric tonnes production of VSF. Sateri has plans to invest approximately USD 550 million in its VSF project in Fujian, China.
 
During the first six months of 2013, the Group continued the ongoing construction of its greenfield VSF project in Fujian, China, which is on track and is expected to be operational by the end of 2013.
 
The company, in its earnings for the six months ended June 2013, announced that the group will focus on completing its VSF project in Fujian, China, which is scheduled to be operational by the end of this year. Total investment is expected to be approximately RMB3.5 billion (approximately USD 550 million), supported by committed project finance facilities of RMB2.0 billion.
 
In the first half of 2013, market conditions remained challenging and product pricing for VSF remained weak. VSF pricing saw weaker prices from China’s slower economic growth. Although the market stabilized temporarily in the first few months in 2013, spot market prices of VSF softened to under USD 1,900 per metric ton, as at 30 June 2013.
 
With the capability to offer the entire range of cellulosic fibre, Sateria has positioned itself as a dependable supplier of VSF fibres across global markets. The company has ventured into the production of high-performance viscose fibres to help the company penetrate into global markets and grow further.
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