 |
 |
||||||
[November 2004]
Establishment of New Ceramic Fibre Company in China
Luoyang Institute of Refractories Research (LIRR) in Luoyang, Henan Province, China has celebrated the establishment of LIRR Ceramic Fiber Co Ltd, a company jointly invested in by LIRR and Xin'an Power Engineering Company. The joint venture operation sees LIRR holding 60% of the shares and Xin'an 40%.
The companies said they had brought together their advantages, namely LIRR's prestigious brand, professional team and advanced technology and Xin'an Power's abundant power resource. Equipped with advanced production facilities and a modern corporation management system, the newly established company will strive, said the partners, towards becoming the most competitive ceramic fibre provider in China by expanding the product varieties and improving the product quality.
The ceramic fibre and related products of the first phase production are expected to reach a capacity of 2,000 tpa and sales revenue of 30 million yuan per year.
ENDS