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Yuntian Chemical Industry Build Glass Fiber with RMB 1 billion

17 November 2002

Yunnan Yuntian Chemical Industry Co., Ltd. will invest RMB 1 billion to Chongqing Big Ferry New Material Industry Park to enlarge the company's output of glass fiber to 100,000 tons in three years. It will build one of the nation's three largest glass fiber production base.

It purchased Chongqing International Compound Material Co., Ltd. (CPIC) in the Big Ferry New Material Industry Park. Later Yuntian Chemical introduced advanced production line from Japan, and built the largest single glass fiber production line of China with 25,000 tons productivity.

Yuntian Chemical Industry Co., Ltd. has made a good profit, just after the production line formally worked for not more than one year. From January to September this year, its sales amount reaches 15,000 tons, with production value of RMB 150 million. According to primary estimation, the sales amount of this year will reach 23,000 tons.

Yuntian Chemical Industry Co., Ltd. signed an agreement with a Saudi Arabia company to build Tianwei New Material Co., Ltd. in Big Ferry, investing RMB 1 billion to enlarge the size of glassfibre's production. The production line with 30,000 tons per year will formally start to produce in Big Ferry in May, 2003. Before 2005, a production line with 30,000 tons per year will be built. Then, the glass fiber production ability of

Yuntian Chemical Industry Co., Ltd. in Chongqing will reach 100,000 tons per year, with the sales amount of RMB 1 billion and its profits will over RMB 100 million. At that time, the New Material Industry will to the third big glass fiber production base following Shandong and Zhejiang.