Reichhold inks LOI with TEDA to set up resin plant in China

10-Sep-08
US-based Reichhold and China's Tianjin Economic Development Area (TEDA) have inked a letter of intent (LOI) to set underway the 50,000 tpa unsaturated polyester resins project in Tianjin. The polyester plant is expected to attract a total investment of US$40 mln and has a registered capital of about US$12 mln. The expected production in the first year will amount to RMB 100 mln (approx. US$14.62 mln) and that figure will climb up to RMB 500 mln(US$ 73.11 mln) in 2011.
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