NINGBO, China -- Keyuan Petrochemicals, Inc. ("Keyuan or the "Company") a leading merchant manufacturer of various petrochemical products in China, announced has completed the construction of its Styrene-Butadiene-Styrene ("SBS") production facility located in Ningbo, Zhejiang Province.
The Company commenced construction for its new 70,000 ton SBS production facility in September 2010. Having completed the construction and equipment installation in September 2011, Keyuan is currently conducting equipment optimization and testing. It will conduct trial production runs in October and November before commercial production begins.
Mr. Chunfeng Tao, Chairman and Chief Executive Officer of Keyuan Petrochemicals, explained, "Our SBS production facility is progressing on schedule. Demand for SBS remains stable, and we are actively engaged in discussions with prospective customers. We remain confident in achieving approximately 80% utilization rate for this new facility in 2012."
Keyuan Petrochemicals, Inc., established in 2007 and operating through its wholly-owned subsidiary, Keyuan Plastics Co., Ltd., is located in Ningbo, China and is a leading independent manufacturer and supplier of various petrochemical products. Having commenced production in October 2009, Keyuans operations include an annual petrochemical manufacturing design capacity of 720,000 MT for a variety of petrochemical products, with facilities for the storage and loading of raw materials and finished goods, and a technology that supports the manufacturing process with low raw material costs and high utilization and yields. In order to meet increasing market demand, Keyuan plans to expand its manufacturing capacity to include a SBS production facility, additional storage capacity, a raw material pre-treatment facility, and an asphalt production facility.
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