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Changzhou Zhongfu Liberty Composites Co. Launched

Changzhou Zhongfu Liberty Composites Co., co-registered by China Composites Corporation and China Building Material I&E Co., was formally launched on December 18,2003. Based on the newly-founded company, CCGC plans to set up a Composites Industrial Garden and to make an accumulated investment of RMB 1-1.2 billion with 3-5 years with the aim to reach an sales income of RMB 2 billion, profit of million 180 in 5 years. Three production lines for glass fiber veil will be put into operation in the Garden with a production capacity of 500 million m2. At that time, the Garden will become the Asian largest glass fiber veil production base. The garden will also add new production lines for composite flooring with half rigidity and processing to expand the market at home and abroad and to form the Chinese largest production base for flooring with half rigidity in the Garden. Changzhou Composites Industrial Garden will integrate the resources of China Building Material Group, China Composites Corporation and China Building Material I&E in Changzhou to further improve the building material production and processing capability with the aim to explore the overseas market, to build the national largest composite flooring material base by upgrading the PVC production line and adding high-quality, high-value-added 4mm modified PVC flooring. The Garden will also continually adapt to the changing situation and adjust the investment project to strengthen the power as to become a comprehensive high-economic-value composites production base in Yangtse River Delta and within the Chinese building material industry.

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