Invest 1 Billion Yuan! Wanma and Wanhua Join Hands to Build an Integrated Project

On the evening of May 22, Wanma Co., Ltd. announced that in order to promote the upward extension of the company's new material sector and realize the integrated production of upstream and downstream cable polymer materials, a wholly-owned subsidiary, Zhejiang Wanma Polymer Materials Group Co., Ltd. Wanhua Chemical (Fujian) New Materials Co., Ltd., a holding subsidiary of Huachem, plans to jointly invest in the construction of the "Wanma Wanhua Upstream and Downstream Integration Project" in Jiangyin Gangcheng Economic Zone, Fuzhou City, Fujian Province.

In order to implement the Wanma Wanhua upstream and downstream integration project, Wanma Polymer Group, Wanhua Chemical (Fujian) and Fuzhou Jiangyin Gangcheng Economic Zone Management Committee jointly signed the "Fuqing Wanma Wanhua Upstream and Downstream Integration Project Investment Contract". According to this investment contract, Wanma Polymer Group and Wanhua Chemical (Fujian) will jointly establish Fujian Wanhua Polymer Materials Co., Ltd. In order to implement this upstream and downstream integration project, the equity of Wanma Polymer Group accounts for 60%, and the equity of Wanhua Chemical (Fujian) accounts for 40%.

According to the announcement, the new company's business scope is the production and sales of environmentally friendly cable polymer materials. The total investment of the Wanma Wanhua upstream and downstream integration project is about 1 billion yuan. The main products and output are the construction of environmentally friendly cable polymer materials. According to the construction progress of Wanhua Chemical Base Material Project, the construction of the integrated project will be carried out in two phases, and the production capacity of each phase is 300,000 tons/year.

It is reported that the Wanma Wanhua upstream and downstream integration project to be implemented this time has realized the seamless connection of modified cable materials and upstream petrochemical raw materials in the production process. The basic petrochemical raw materials produced by HuaChem are directly converted into cable materials. This production method reduces the raw material transportation, packaging, inventory, sales management and other links between the upstream and downstream industrial chains, saves costs, greatly reduces carbon emissions, and meets the requirements of the national carbon neutrality strategy.

In addition, "environmental protection" is also one of the key words of the project.

Wanma Co., Ltd. said that with the development of the dual-carbon economy, green environmental protection has become the development trend of cable materials, and the market has gradually accepted and actively promoted environmentally friendly cable materials. Especially last year, the market share of the company's halogen-free low-smoke flame-retardant polyolefin cable materials and cross-linked polyethylene cable materials continued to increase. This expansion of production capacity may effectively meet the growing downstream demand for environmentally friendly cable materials.