China’s NMG has started its technical innovation project
The foundation stone laying ceremony for the technical reform project of Zhejiang Lianyang New Materials was held in Tongxiang city, Zhejiang province, China.
NMG’s annual output of 5,000 tons of advanced composite materials and 160,000 cubic meters of environmentally-friendly polymer material technical innovation project is an extension of its industrial chain first-stage project.
According to the company, after the project is put into production, the project can result in a cost reduction of about 20%, which greatly improves local customer service capabilities. It is also key to maintaining NMG’s position in the domestic market and improving its competitive advantage. Once running, the project is expected to achieve a substantial increase in NMG’s annual business income.
NMG explains it is using European advanced green and environmentally friendly polymer foam technology. Its aim is to achieve local manufacturing with foreign technology, ensure supply chain safety and optimize costs. The company strives to realize the localization of LNG storage and transport by using ultra-low temperature insulation materials.
The project will also establish an advanced carbon fiber composite product system for new energy vehicles and aviation. At the same time, the company is accelerating its international layout, establishing a manufacturing base in Thailand, and increasing its manufacturing capacity in Europe.
