March 23, 2011 – Float, automobile, construction and solar glass manufacturer, Xinyi Glass, says its production capacity expansion plan for all its glass
product categories in China have been progressing well. Xinyi's second
photovoltaic glass production line at its Wuhu production
complex in Anhui Province, China, with a daily melting capacity of 500
tonnes, started its trial run today.
In view of the global trend to use
green and renewable energy sources, the company accelerated its expansion
of the solar glass business during the year. It is currently
developing three new solar glass production lines in Wuhu and Tianjin,
to expand its customer base and enhance market penetration in the
Yangtze River Delta and Eastern China. Xinyi plans to expand
capacity of solar glass to 2,900 daily melting tonnes, which adds up to a
total annual capacity of 730,000 melting tonnes in first half of 2011.
green and renewable energy sources, the company accelerated its expansion
of the solar glass business during the year. It is currently
developing three new solar glass production lines in Wuhu and Tianjin,
to expand its customer base and enhance market penetration in the
Yangtze River Delta and Eastern China. Xinyi plans to expand
capacity of solar glass to 2,900 daily melting tonnes, which adds up to a
total annual capacity of 730,000 melting tonnes in first half of 2011.
Looking ahead, Xinyi projects solar
glass demand in global markets will continue to grow robustly,
especially since the U.S. has
adopted a new US$2.8 billion supportive program. Solar glass business
will become a major growth driver for the Xinyi in long term. Moreover,
the Chinese Government will advance the implementation of the Golden
Sun Model Home Project and PV Construction Model Project by
government subsidies with an aim to boost China’s PV use to not
less than 1,000 MW per year in 2012.
glass demand in global markets will continue to grow robustly,
especially since the U.S. has
adopted a new US$2.8 billion supportive program. Solar glass business
will become a major growth driver for the Xinyi in long term. Moreover,
the Chinese Government will advance the implementation of the Golden
Sun Model Home Project and PV Construction Model Project by
government subsidies with an aim to boost China’s PV use to not
less than 1,000 MW per year in 2012.
Xinyi also plans to expand its
higher-margin processed solar glass products business. These products
can be sold to solar module manufacturers directly, and are made using cheaper and
clean natural gas as fuel to improve cost structure.
higher-margin processed solar glass products business. These products
can be sold to solar module manufacturers directly, and are made using cheaper and
clean natural gas as fuel to improve cost structure.
The Board of Directors has proposed a spin-off listing of the
solar business in Hong Kong to accelerate growth of this business. These
new production lines should benefit the Group with economies
of scale, and help to expand its clientele, and enhancing market
penetration in the Yangtze River Delta and Eastern China.
solar business in Hong Kong to accelerate growth of this business. These
new production lines should benefit the Group with economies
of scale, and help to expand its clientele, and enhancing market
penetration in the Yangtze River Delta and Eastern China.
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