In February of this year, Huafeng TPE Co., Ltd. conducted trial production of the 30,000-ton TPU expansion project.
The project started in 2016. It is currently waiting for regulatory approval and will soon be fully operational.
It is located in Ruian Economic Zone. It is the headquarters of TPU manufacturer Huafeng Group.
The company invested 59 million yuan (9 million US dollars), and has built six production lines, each production line with an annual capacity of 5,000 tons. This allows the project to produce 42,000 tons of this year / year.
The project will create 48 new jobs. After full operation, the employees will perform three shifts.
Huafeng Thermoplastic Polyurethanes Co., Ltd. also has a second factory in Wenzhou Xincheng Industrial Zone. The plant has 28,000 tons/year of TPU production capacity and 2,000 tons/year of hot melt adhesive production capacity. It is also preparing to expand other polyurethane production capacity in Wenzhou.
The company produces more than 100 TPUs with hardness ranging from 60 Shore A to 70 Shore D. Its products are used in footwear, electronic products, automotive parts and films. In 2016, TPU business income was 570 million yuan.
In the same year, Huafeng Group's revenue reached 1.5 billion yuan, which was 17% higher than 2015. Net profit increased by 17% to 62 million yuan.