Tongkun Co., Ltd. invested heavily in promoting the cotton like differentiated fiber project
Tongkun Co., Ltd. launched the 400000 ton fiber project with an annual output of 1.86 billion yuan. It was learned in August 2012 that as a leading enterprise in the domestic polyester fiber manufacturing industry, the replacement of hardware is fatal, Tongkun Co., Ltd. will invest 1.86 billion yuan to promote the 400000 ton super cotton like differentiated fiber project
Tongkun shares announced today that the board of directors reviewed and approved the fourth phase project of Hengtong chemical fiber industrial city, namely the humon project plan. The project is located in the radiation and driving role of leading enterprises in Tongxiang City, Zhejiang Province, with a total land area of 450 mu, of which 220 mu of land use indicators have been basically implemented, and the other 230 mu of land use procedures are still being handled. The project plans to build polyester workshop, melt direct spinning filament workshop, PTA feeding room, integrated power water supply station and other buildings. It needs to be pointed out that the total area of the building is 147370 square meters, using domestic polyester melt direct spinning, "one head and two tails" flexible polymerization technology, importing 1600 world-class new drafting and winding equipment, and setting up 20 direct spinning differential fiber filament production lines, The annual production capacity of 400000 tons of super cotton like differentiated polyester filament will be formed
according to the prediction of the company, the annual operating income after the project is estimated to be 5.92746 billion yuan, the total normal annual profit is 680 million yuan, and the after tax profit is 578 million yuan. In fact, this large-scale investment in new production lines is a counter cyclical layout of Tongkun shares. In recent years, due to the rapid expansion of the overall production capacity of the industry and the serious shortage of demand inside and outside the downstream clothing, home textile and other industries, the phenomenon of oversupply of polyester products has further intensified, and the whole industry has entered a period of structural in-depth adjustment. Many polyester enterprises have suffered serious inventory shrinkage and a sharp decline in gross profit margin due to the rapid decline in product prices
for the investment background, Tongkun explained, "considering that carrying out counter cyclical project construction in the adjustment period of the industry can effectively reduce the construction cost of the project, quickly release production capacity when the industry is cyclical, widen the gap with peers in the fierce market competition, and decide to start the project in combination with the market demand for textile products."
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