Polyamide, Shenma Group plans China 6,6 yarn jv

05 July 2006 11:54  [Source: ICIS news]

SINGAPORE (ICIS news)--China’s Shenma Group and Germany’s Polyamide High Performance (PHP) have agreed to set up a polyamide 6,6 airbag yarn joint venture in China, a Polyamide official in Shanghai said on Wednesday.

They plan to set up a 3,000 tonnes/year plant at Pingdingshan, Henan province, by 2007 and then double the capacity in 2009. The total investment cost is $22.5m.

The companies said in a statement that further expansions were possible beyond 2009.

“With this project, we are confident that we can supply…the full range of products in the same quality and professional support as we currently do in the western hemisphere,” said Volker Siejak, a business director at Polyamide.

Under the agreement, Shenma PHP Airbag Yarn Manufacturing would operate the plant while PHP Shenma Airbag Yarn Marketing (Shanghai) would be the Shanghai-based marketing arm.

The airbags that the companies produce will be marketed in China, as well as the rest of Asia.

By: Michael Gordon
+44 20 8652 3214

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