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The company expects to complete the second phase of its Hengdali facility expansion in the first quarter, which will add an additional 14 million square meters of annual capacity, bringing total company-wide capacity to 56.2 million square meters by the end of the first quarter, up approximately 48% from its capacity at the beginning of 2010.
An additional $14 million is expected to be invested at the Hengda facility this year to further expand its capacity by 4.6 million square meters by 2012.The third phase of expansion at the Hengdali facility is also expected to be completed by the end of the year, and will add 18 million square meters of annual capacity at a cost of approximately $20 million.
“We are pleased to announce the completion of the first phase of expansion of our Hengda facility and we look forward to announcing the completion of the second phase of expansion of our Hengdali facility in the first quarter of 2011,” said Jiadong Huang, CEO. “We remain confident in the outlook for the Chinese economy in general and the construction materials industry in particular over the foreseeable future. Based on our existing orders as well as feedback from our customers, we expect that our capacity expansion in the quarters ahead will be fully absorbed by increased demand for our products.”
For additional details, visit www.cceramics.com.