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Chinese firm decreases viscose staple fibre capacity
Aug '13
China’s Ministry of Industry has recently released a list of enterprises that would eliminate their backward production capacity.
The list includes elimination of 20,000 tons of viscose staple fibre production capacity of Xinxiang Chemical Fiber.
The company would be decreasing its annual viscose staple fibre production capacity by 20,000 tons, in order to accelerate the construction of new projects.
The decrease in VSF output would not have any major impact on the company’s performance, as the concerned production line was functioning with obsolete equipment, resulting in high production costs.
The removal of 20,000 tons of VSF production capacity would decrease the company’s total VSF production capacity by 15 percent, its overall production capacity by 10 percent, accounting for 7 percent of its annual sales revenue.
According to the company, only the spandex fibre prices rebounded during the first half of this year, and the prices declined of other main products like VSF and VFY.
Xinxiang Chemical has invested 165 million yuan for spandex fiber projects, construction for which began in February 2013, and the company plans to put the make the plants operational this year itself.

Fibre2fashion News Desk - India

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