China’s Red Avenue expands rubber additive capacity

Zhangjiagang, China – Red Avenue New Materials is expanding its rubber additive capacity in Zhangjiagang, Jiangsu, the company has announced.

The programme has involved a first round of capital injection of €44 million (349 million yuan) in the related subsidiary this October.

Funding was raised from a Red Avenue IPO on the Shanghai Stock Exchange this June.

The expansion, under fully-owned subsidiary Sino Legend (China) Chemical, includes a 20ktpa additive project with €7 million total investment and a 27ktpa additive project with €30 million total investment.

The prospectus refers…

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