BEIJING, July 4 (Xinhua) -- Shandong Yanggu Huatai Chemical Co., Ltd. (Huatai Chemical, 300121.SZ) announced plans to establish a new rubber additives production base in Thailand, as revealed in its recent filing to the stock exchange.
The initial phase of the investment, totaling up to 37.6 million U.S. dollars, will cover land acquisition, construction of production facilities, and procurement of fixed assets.
This move to build a production base in Thailand aligns with its development strategy and international expansion goals, according to the company.
"This investment in Thailand will boost our overseas presence, expand product supply capacity and improve global sales. It will enhance competitiveness, resilience, and better meet overseas customer demands," the company stated.
Thailand, as an emerging market, has absorbed significant tire production capacity relocations in recent years and improved its related industrial chains, making it an ideal setting for the company to establish an overseas production base, said the company.
Huatai Chemical is a leading global supplier of comprehensive rubber additives, specializing in anti-scorching agents, accelerators, and insoluble sulfur. The company commands a dominant position with over 60 percent of the global market share for its anti-scorching agent CTP sales and production. (Edited by Zhao Wanru, hupingchao@xinhua.org)
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