China XD Plastics to construct production and R&D facility in China

China XD Plastics Company Limited, one of China's leading specialty chemical players engaged in the development, manufacture, and sale of polymer composites primarily for automotive applications, has broken ground on a 300,000 tons polymer composites production and R&D project in Southwest China that would expand production capacity by 300,000 metric tons and equipped with a professional research and development center and an independent training center.

China XD's southwest expansion project is situated in an area of 3,230,000 square feet in Nanchong City, Sichuan province, the hub of the economic circle in Chengdu and Chongqing. Within a 500-kilometer radius of the construction site, there are factories for automotive manufacturers such as First Automobile Group, Shanghai GM, Volvo, Changan Ford and Dongfeng, etc. The region is also home to industries of high-end applications that the company has been pursuing, including China Southern Rail Corporation ("CSR") and China Northern Rail Corporation ("CNR") in the high-speed railway sector, and Xi'an Aircraft Industry (Group) Company Limited, Chengdu Aircraft Industrial (Group) Company Limited and Guizhou Aviation Industry (Group) Company Limited, etc.

The mayor and municipal party secretary of Nanchong City joined the groundbreaking ceremony, marking the official commencement of the project in the southwest.

According to the its development plan, the company plans to complete the project in approximately two years, funded with its existing cash, its future operating cash flows and loans. The decision to build the fourth production base follows China's 12th Five-Year Plan, which promotes green and environmental protection sectors and new material industries. The cAir Jordan XI 11 Wool