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San Ding Group to invest in second nylon plant
07 Jul '08
1 min read
San Ding Holding Group has plans to make an investment of US $220 million for its second nylon plant which is scheduled to get into operation next year.
Plans are also underway to invest into downstream sector of nylon products next year like Caprolactum.
The company believes that this is the best time to make investments and once the economy improves, it would reap the benefits of the investments.
In the face of burgeoning pressure and difficulties encountered by the textile industry, Mr Ding Zhimin, Chairman of San Ding Holding Group, stood firm saying “Changes are opportunities.”
While the cost of production of competitor companies rose by 10 percent in the first five months of this year that of San Ding's grew by only 2 percent. The company could make this possible by adopting several measures like strengthening management over production process; making use of leverage of credit letters; trying their best to delay payment for imported equipment, reasonable arrangements for operation of new equipment and ensuring that profits from products bring better returns.
Plans are also underway to invest into downstream sector of nylon products next year like Caprolactum.
The company believes that this is the best time to make investments and once the economy improves, it would reap the benefits of the investments.
In the face of burgeoning pressure and difficulties encountered by the textile industry, Mr Ding Zhimin, Chairman of San Ding Holding Group, stood firm saying “Changes are opportunities.”
While the cost of production of competitor companies rose by 10 percent in the first five months of this year that of San Ding's grew by only 2 percent. The company could make this possible by adopting several measures like strengthening management over production process; making use of leverage of credit letters; trying their best to delay payment for imported equipment, reasonable arrangements for operation of new equipment and ensuring that profits from products bring better returns.
Fibre2fashion News Desk - China
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