CHANGZHOU, China, Sept. 19, 2014 /PRNewswire/ --
Almost 60 million m2 Colback production capacity
Low & Bonar's division Bonar, specialized in high performance technical textiles, today celebrates its Foundation Ceremony to start the construction of the new factory that will be built in Changzhou.
(Photo: http://photos.prnewswire.com/prnh/20140919/706632-a)
(Photo: http://photos.prnewswire.com/prnh/20140919/706632-b)
Brett Simpson, CEO of Low & Bonar: "Our decision to invest in a new factory in China to support the fast growing Asian markets is consistent with our strategy and will consolidate our position as global leader in the carpet tile backing and automotive markets."
"The new factory will facilitate from the start one production line for 60 million m2of Colback. This is a unique technology to supply the fast growing and important carpet tile backing and automotive markets in China and the Asian region. In the flooring industry, Colback is widely used as a primary backing in carpet tiles, high-grade patterned wall to wall carpeting and walk-off mats. The dimensional and thermal stability of Colback prevents carpets from bowing and skewing during processing and makes installation, especially pattern repeat, easier. In the new factory, there will be enough space for a second production line of Colback."
Investment
Marc Krauth, Bonar's Global Business Director Interior & Transportation:
"This investment is an exciting opportunity to capitalize on our unique technology base both domestically and in Asia and to follow, and support, our strategic US customers moving into the Asian Pacific region. This state-of-the-art production facility will provide a strong platform for our further growth. The Changzhou Government and Changzhou National High-Tech District (CND) have been very supportive to make our new investment in CND possible."
The total cost of the investment will be circa EUR 32m spread over two years and is funded by Bonar's own resources. Alex Xu, Country Manager China for Bonar: "Production is expected to commence in 2016 and sales and technical support will be provided by the team located in Shanghai."
