The groundbreaking ceremony for a new polyolefin elastomer or POE plant that will produce 100,000 metric tons per year took place in the Taixing Economic Development Zone, located in Taixing city, East China's Jiangsu province, on Sept 26.
With a total investment of 5.2 billion yuan ($741.68 million), the plant will be operated by EDZ resident company Levima Wison (Jiangsu) New Materials, co-founded by Levima Advanced Materials Corporation and Wison (China) Holding Company.
It will mainly produce photovoltaic film materials, various industrial toughening materials and other products.
When up and running, it is expected to generate revenue of 6 billion yuan annually and tax revenue of 500 million yuan.
Due to their outstanding performance, POE products are widely used in the fields of toughening modifications to automotive materials, shoe materials, as well as in construction, electronic appliances, daily necessities and medical equipment.
In recent years, POE products have been widely used in high-performance photovoltaic films and have become a highly promising new material to replace traditional rubber and some plastics.
When completed, the plant is expected to break the monopoly presently held by other countries in the production technology of polyolefin elastomers.
A groundbreaking ceremony takes place for the new POE plant. [Photo/WeChat account: txfabu]