China Glass Fiber Co., Ltd. announced on the 26th that its wholly-owned subsidiary, Jushi Group Co., Ltd., plans to set up Jushi US Glass Fiber Co., Ltd. and build an annual output of 100,000 tons of alkali-free fiberglass tank furnace wire drawing production line projects.
The total investment of the project is 331 million U.S. dollars, located in South Carolina, USA. It is planned to begin construction in the first quarter of 2013 with a construction period of 18 months. After completion and production, it is estimated that annual sales income will be approximately 134 million US dollars.
China Glass Fiber said that this move is to further implement the strategic planning of globalizing its layout and internationalizing its market, opening up major overseas markets, avoiding the threat of international trade protectionism, and upgrading the company’s management and technology through overseas lines.
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