On April 25th, Huafon Chemical announced that the non-public offering of the company's holding subsidiary Chongqing Spandex Construction's non-public offering fundraising project of 300,000 tons/year differentiated spandex expansion project was partially completed, of which 100,000 tons/year has been put into trial operation recently.
It is understood that the 300,000 tons/year differentiated spandex project is expected to have a total investment of 4.36 billion yuan, which will be constructed in three phases and is expected to be completed in 72 months. Each phase will build 50,000 tons/year, 150,000 tons/year and 100,000 tons/year differentiated spandex respectively.
Founded in December 1999, Huafon Chemical is a holding subsidiary of Huafon Group with a registered capital of over 4.6 billion yuan. Focusing on the R&D, production and sales of spandex fiber, polyurethane stock solution and refined adipic acid, it is a leading enterprise in the global polyurethane product material industry. It has overseas subsidiaries such as South Korea and Turkey, and has two production bases in Zhejiang and Chongqing.
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