On October 28, Tongai Electronic Materials Co., LTD., located in Tongfeng Electronic Industrial Park, Tongling Economic and Technological Development Zone, officially started the construction of polyester film production line for capacitors. Tongai Electronic Materials Co., Ltd. is a joint venture established by our company and SKC Company, a subsidiary of SK Group, a Fortune 500 enterprise in the world. The polyester film production line for capacitors started this time is the first phase project of Tongai Company, with a total investment of USD 28,029,300. It is expected to be completed and put into operation by the end of 2006. Tang Shiding, deputy secretary of the CPC Municipal Committee, Wang Ren, deputy director of the provincial Bureau of Quality and Technical Supervision, Deputy Mayor Wang Gangying and other leaders of the China-South Korea joint venture attended the ceremony.
Tongfeng Company has built four polypropylene film production lines for capacitors, and is currently the world's largest producer of similar products. In order to further accelerate the industrial scale process and improve the overall level of capacitor film manufacturing, the company plans to expand the product field and enter the polyester film product industry. To this end, the company and the world's third largest polyester film manufacturer Korea SKC company for cooperation negotiations, after nearly two years of negotiations, the two sides signed a formal cooperation on November 9, 2004 and jointly invested 24 million dollars to establish a new joint venture - Tongai Electronic Materials Co., LTD., the registered capital of the company is 12 million dollars. SKC invested $3 million in cash, accounting for 25% of the registered capital.
Tongai Electronic Materials Co., Ltd. combines the strengths of Tongfeng Electronics and SKC, and through complementary advantages, the first phase of the construction of the annual output of 2,600 tons of 3 ~ 12 micron capacitor polyester film production line project. The production line is designed by Chinese and Korean experts, mainly using the production process and technology of SKC company, while absorbing the successful experience of polypropylene film production line for capacitors of Tongfeng Company, including Germany, France, Japan, South Korea, China and other countries of the main tensile film equipment suppliers of high quality two-way stretching equipment, self-combination into a new production line. At present, all the preliminary work of the project has been completed.
Polyester film products for capacitors are mainly used in DC film capacitors for household appliances and electronic information products enterprises. This product has high added value and broad market prospects. At present, it mainly relies on imports, especially products below 5 microns are still blank in China. After the project is launched, it will fill the domestic vacancy and create a new profit growth point. At the same time, the scale of the electronic material industry of the company will jump again, and the company's reputation and status in the Asian and even the world market of similar products will be further improved, and it will also play a certain role in promoting the domestic capacitor film manufacturing field.
Chen Shengbin, chairman of the company, said at the ceremony: With the construction and development of the project, Tongai will become the most advanced and competitive polyester film production base and monopoly enterprise in China. Here, we hope that the builders of Tongai PET project can cooperate closely, strengthen division of labor and cooperation, overcome various difficulties, adhere to high level, high starting point, high quality, rush time, grasp the schedule, and build Tongai PET production line as soon as possible.