Hongbaoli raises capital for rigid polyol expansion

摘要

Taizhou,Jiangsu-Chinese system house Hongbaoli plans to raise up to CNY509m($74m)through a private share placement.All of the funds will be pumped into a new project with 120kT/year capacity for poly ether polyol at the company's site in Taixing,which is located in the county of Taizhou,Jiangsu province,it said.Currently,Hongbaoli has 150kT/year polyether polyol capacity,and last year sold 120kT.Growing downstream markets,especially along the cold chain,will further boost the demand,it said.