Zhongyuan Chemical's wholly-owned subsidiary in Malaysia, Zhongyuan Innovative Fiber Company, was established in October 2010. The factory that invests 1 billion yen was put into production in May this year and began production of the proprietary Futura brand of flame-retardant poly. Ester fiber products, the company plans to invest another 1 billion yen in 2012 to build a second production plant. Futura flame-retardant polyester fiber products were originally produced by the Chungchi Chemical Osaka Plant and are used exclusively for the production of wigs, which are mainly sold to China and other Asian countries.
Japan's Bell Resources Chemical and its wholly-owned subsidiary, Qingdao Haihua Fiber Co., Ltd., specialize in the production of PVC yarns for the Advantage brand of headwear. It is said that the new installation of Qingdao Haihua Fiber Co., Ltd. will be put into operation in September this year. The company also plans to invest about 2.17 billion yen in 2012 to expand the polyvinyl chloride fiber plant and further expand the production of PVC fiber products.
In addition, the Kanecaron product produced by Kyeonchi Chemical Co., Ltd. is a kind of acrylic fiber that has the feel of animal hair and human hair and is flame-retardant, and about 90% of its products are exported.
At the end of July, Japan's Chungchi Chemical announced that it would double its annual sales revenue of the synthetic fiber business in the next five years to 50 billion yen (about 634 million U.S. dollars). The company plans to invest 5 billion yen in fiscal year 2012 to increase its combined fiber production capacity in Malaysia and China and look for opportunities to further expand its production capacity in Asia.