First Applied greenlights plans for film, backsheet manufacturing development
- Hangzhou First Applied Materials' board has approved strategies to increase its production ability for PV films and backsheets.
The firm will establish a wholly-owned subsidiary in the Jiaxing Economic and also Technological Development Zone for this purpose, permitting it to satisfy enhancing demand for the components from the PV industry.
Simply over RMB1 billion (US$ 146.4 million) will be purchased the expansion project, with construction to finish in three years. Once finished, the yearly capability for film as well as backsheet manufacturing is expected to be 250 million as well as 110 million square metres specifically.
The company is likewise pushing forward with the building of a number of various other projects at an extra investment of RMB1.1 billion (US$ 161 million), namely a white EVA film technology improvement project with an annual production of 250 million square meters, phase among a POE packaging film project with an annual production of 200 million square meters and a photosensitive completely dry film project with an annual production of 216 million square meters.
At the time of launch of the company's previous half yearly report, the above three projects had actually currently seen parts of main manufacturing facility structures and ancillary facilities finished, with some production lines in operation and others being set up and also readjusted.
First Applied is a worldwide leader in the PV film and backsheet field, with the business declaring a worldwide market share of over 50% for its film products in particular. The company's most recent half yearly report reveals earnings for the first fifty percent of 2020 to be RMB3.376 billion (US$ 494 million), rep of 13.35% year-on-year growth.
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