INVISTA Breaks Ground for US$50-Million Airbag Plant in Shanghai
State-of-the-Art Plant will be China 's Largest Manufacturer of Nylon 6,6 Airbag Fiber for Booming Automotive Industry
Shanghai ( April 26 , 2007) – INVISTA, the world's leading integrated fibers and polymers producer, broke ground today for its new nylon manufacturing plant in the Qingpu Industrial Zone of Shanghai. The groundbreaking ceremony was attended by senior local officials, INVISTA executives and INVISTA's key customers from around the world.
The new plant, representing an investment worth more than US$50 million, is expected to produce state-of-the-art, super high-tenacity nylon 6,6 yarns primarily for use in the safety airbags that are critical components of the automobile industry. It is the latest of the US$300-400 million investment in China that INVISTA announced last year.
"This is an exciting day for INVISTA. INVISTA is the first international company to commit to production of airbag yarns in China , and we will be the only company to have airbag fiber capacity on three continents when the plant goes into production by mid-2008," said Dan Stone, president, INVISTA Performance Materials.
The new plant will have an annual capacity of 11,000 tons of speciali z ed yarns, making INVISTA the first producer in China to exceed the 10,000 tons/year benchmark. Currently, there are no manufacturing facilities in China producing this product. The new plant has also earned the status of an “Encouraged Industry” as a producer of super-high-tenacity nylon 6,6 yarns.
Senior leaders of the Qingpu District Government and Qingpu Industrial Zone celebrated with Dan Stone and other local government officials as well as key INVISTA customers from around the world. Also present was Hyun Byung Lee, INVISTA Performance Materials regional director for the Asia Pacific region.
" Shanghai is home to a dynamic automotive industry and INVISTA is proud to be part of such a fast-growing and progressive community," added Stone. "Our investment will put airbag fiber production right beside our key customers in China , giving us the opportunity to respond flexibly to their changing needs as well as leverage our global leadership in this material."
In China , INVISTA has spandex manufacturing joint ventures in Shanghai , Liangyungang and Foshan, two bedding product joint ventures in Beijing and Suzhou , as well as sales and administrative offices in Beijing , Shanghai and Guangzhou .
INVISTA executives and representatives from Shanghai Qingpu District Government and Qingpu Industrial Zone dot lions' eyes at the groundbreaking ceremony of INVISTA's new airbag fiber plant
INVISTA executives and representatives from Shanghai Qingpu District Government and Qingpu Industrial Zone host the groundbreaking ceremony for the new airbag fiber plant
