Luyang Energy-Saving Materials

Alkegen has completed a tender offer to obtain a controlling ownership interest in Luyang Energy-Saving Materials Co., Ltd., a Chinese producer of ceramic fibers and high-temperature insulating materials.

Luyang Energy-Saving Materials announced on August 30, 2021, that its subsidiary Inner Mongolia Luyang Energy-Saving Materials will invest 180 million yuan (approx. $27.8 million) to build a 120,000-ton-per-year ceramic fiber blanket production facility in Inner Mongolia.

Luyang Energy-Saving Materials plans to spend US$11 million to upgrade its mineral wool insulation plant in the Yiyuan Economic Development Zone in Shandong, China, adding 25,000 t/yr of capacity to reach 50,000 t/yr.