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China Jushi Signs the Contracts of the US Project and the IM Base Project

Source: China Jushi

Date: May 30, 2016

On May 28, the contract signing ceremonies of the China Jushi Glass Fiber IM Base Project and the 80,000t glass fiber line project in the US, for which China Jushi invested USD 300 million, were grandly held in Tongxiang, Zhejiang.

The event was attended by Song Zhiping (Chairman of CNBM), Cao Jianglin (GM of CNBM), Zhao Linghuan (Executive Vice President of Legend Holdings, President of Hony Capital), Han Jie (Deputy Director-general of Department of Commerce of Zhejiang Province), Lou Jianming (Member of the Standing Committee and Executive Vice Mayor of Jiaxing), Lu Yuedong (Secretary of Municipal Party Committee of Tongxiang) and Nielsen Lindsay (Director of International Business Development Office, Department of Commerce, South Carolina), and conducted by Zhang Yuqiang (President of China Jushi, CEO of Jushi Group). On behalf of CNBM, Song Zhiping expressed warm congratulations and great expectations, and Cao Jianglin expressed specific requirements for the projects. Yang Guoming (Vice President of China Jushi, President of Jushi Group) signed the investment agreement of the China Jushi Glass Fiber IM Base Project with Tu Jianzhong (Secretary of Party Working Committee and Director of Management Committee of Tongxiang Economic Development Zone). Cao Guorong (Vice President of China Jushi), Nielsen Lindsay and Jeff Ruble (Director of Richland County Economic Development Office) jointly signed the investment agreement of the US project.

As introduced by Zhang Yuqiang, the US project is located in South Carolina, and will supply all its products to the US under the general principle “antecedence of factory building, R & D and talent attraction, proximity to customer and markets, supply to the US”. According to plan, the construction of the project will be commenced by the end of this year, and completed in 2018. Locating the factory in the US reflects the firm confidence of China Jushi in implementing the “layout internationalization, market globalization” strategy, and demonstrates that as an industrial leader, China Jushi has the strength, capability and competitiveness necessary for building a world-class glass fiber line in any country.

The foundation stone of China Jushi Glass Fiber IM Base was laid on the same day. Under the principle of “high position, strict requirement, new technology, high strength”, the base located in Tongxiang Economic Development Zone will start from producing raw materials and auxiliary materials, and output raw materials, auxiliary materials and composite materials for the upstream and downstream industries of glass fiber with the most advanced technologies and equipment in accordance with the “high-end orientation, industrial integration” strategy, by sticking closely to the supply side reform. This will continuously bloom and promote the glass fiber and reinforced composite industries.

By making full use of the China Jushi’s and international advanced technologies and equipment and applying the Internet-based thinking and methods, the base will realize the integration of the industry chain and the transformation of the corporate business mode to process manufacturing service, build a digital model covering the whole lifecycle (purchase, production, sales, operation), undertake collaborative production with the Jushi’s production departments, improve the production efficiency, reduce the cost and shorten the delivery term. For product manufacturing, the base will optimize the allocation of human resource, equipment, materials, methods and environments based on delivery deadline and quality, and make the product manufacturing procedure controllable, optimizable, visible and traceable by applying IoT technologies. Furthermore, a production big data cloud platform and an industrial ecosphere will be built there to quickly respond to orders and optimize dispatching and scheduling, and the quality of product and service will be optimized through IM and online optimization. On the basis, China Jushi will be kept at the industrial commanding height, and lead the global glass fiber industry to march towards the goals of high quality, high efficiency and health.

As a leader of the global glass fiber industry, in recent years, China Jushi has been in high-speed increase. Last year, it realized the net profit of RMB 983 million (increasing by 107.15% on year-on-year basis); in the 1st quarter of this year, it realized the net profit of RMB 360 million (increasing by 93.85% on year-on-year basis). The contract signing of the two projects refined the China Jushi’s business at home and abroad, and predicted a bright future of the group during the Thirteenth Five-Year Plan.

According to the speech made by Song Zhiping, China Jushi has been oriented to international markets as of its founding. The group went abroad to expand the US’s market 20 years ago, began to build the global marketing network 10 years ago, and built overseas factories in the development path of transnational corporation through the “third-time business start-up” during the Twelfth Five-Year Plan. In the process, it became a model of “made in China”. The contract signing of the US project is a milestone of the China Jushi’s globalization strategy, and a key step to keep moving based on the top-ranking glass fiber industry. It is a significant reference for the internationalized development of CNBM and the China’s building material industry. In this information age, the fusion of information technology and manufacturing technology will be an inevitable trend of economic development. Re-pioneering in epochal development, China Jushi decides to further improve the technologies and transform the modes of glass fiber production, usher in technical innovation and industrial upgrade in the glass fiber industry as before by building IM bases, thus play the role of wave leader in the industry and the age.

In his speech, Cao Jianglin expressed two hopes. One hope is that the China Jushi’s IM project could become an iconic project and new attempt of the leap from “made in China” to IM that ushers in technical improvement and production mode transformation in the global glass fiber industry, based on quality improvement, cost reducing, efficiency increasing and continuous optimization of resource allocation, and provide a new reference for the fusion between traditional industry and information technology in CNBM. The other hope is that China Jushi could stick to the “layout internationalization, market globalization” strategy as before and build the US project as another iconic project of overseas development of Chinese enterprises, based on the outstanding achievement made in the Egypt project.

 

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