29 February 2012 08:20 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Tangshan Black Cat Carbon Black is planning to start construction of a 200,000 tonne/year carbon black plant at Tangshan in Hebei province in 2012, parent company Jiangxi Black Cat Carbon Black said on Wednesday.
The project, which will require an investment of yuan (CNY) 950m ($151m), will be built in two phases, Jiangxi Black Cat said in a statement to the Shenzhen Stock Exchange.
In the first phase of the project, Tangshan Black Cat will start up two 40,000 tonne/year carbon black units in the third quarter in 2012.
In the second phase, the producer will bring on stream three lines with a respective capacity of 40,000 tonnes/year, expanding the plant’s capacity to 200,000 tonnes/year by the end of 2012, according to the statement.
The project, which takes advantage of the abundant coal tar and coal gas in the region, is part of the firm’s plan to expand its market share in northeast and north China as well as the export sector, Jiangxi Black Cat said.
Jiangxi Black Cat more than doubled its 2011 net profit to CNY122.7m, on the back of strong carbon black sales, the company said in a separate filing on the same day.
Jiangxi Black Cat is the leading carbon black producer in China, with a combined carbon black capacity of 550,000 tonnes/year.
Carbon black is widely used in the manufacture of tyres and rubber products.
($1 = CNY6.30)
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