China Pingmei Shenma Group launched a ceremony celebrating the completion of its first-phase adipic acid caprolactam project and the kicking off the second phase project a few days ago.
Zhang Guowei, mayor of Pingdingshan, Henan province, said it marked another crucial step made by Pingdingshan in buidling the Nylon City of China.
The adipic acid caprolactam project of China Pingmei Shenma Group is a key project in Henan province and the first-phase project was initiated in Aug. 2012.
At the end of May, all the product equipment reached the designed capacity, including caprolactam of 100,000 tons and pure adipic acid of 150,000 tons annually. Those products are widely applied in automotive, electrical appliance, aerospace and aviation, as well as high-speed rail industries.
The polyester industrial yarn of Shenma brand is the material used by parachutes on spacecrafts of Shenzhou series.
With an overall investment of 5 billion yuan, the capacities of the second phase project is expected to reach caprolactam of 300,000 tons and pure adipic acid of 300,000 tons annually.
The capacity of Pingmei Shenma's nylon sector is nearly 1 million tons and the capacity will be boosted to 2 million tons counting in the projects being constructed and designed, said Zhang Dianzi, board member of Pingmei Shenma Group.
Pingmei Shenma's nylon 66 series have taken up a large share of global market, and 60% of its industrial yarn and builder fabric products are for export.
In the first half of this year, the company's production and sales of industrial yarn, builder fabric and oxalic acid made new highs, with the export of nylon products up 34% and that of oxalic acid up 155% year on year.
Today, the company has become a long-term supplier for Michelin, Bridgestone, Goodyear, and other globally renowned tire producers.
Pingmei Shenma aims at boosting its business revenue from the nylon business sector to 60 billion yuan in five to 10 years and facilitating the business revenues of relevant industries to 40 billion yuan, creating a Nylon City of China with business revenues topping 100 billion yuan.
Pingdingshan is also to transform from a Coal Bunker in Central China to a Nylon City of China.
