Shenma Co., Ltd.

Nilit Group will invest tens of millions of dollars in a joint venture with Shenma Group to build a new nylon yarn production facility in Pingdingshan, Henan Province, China. The plant will produce textiles for the automotive industry with a capacity of 20,000 tons.

Shenma股份 announced it will invest 97.92 million CNY as part of a 200 million CNY capital increase for its subsidiary Henan Shenma Nylon Technology, to fund a 60,000-tonne-per-year nylon 6 civil filament phase II project. The investment is proportional to its 48.96% stake.

Shenma Co. plans to increase capital by 173 million yuan in its wholly-owned subsidiary Henan Pingmei Shenma Nylon Materials (Suiping) for a 30,000-ton-per-year BOPA film project with a total investment of 578 million yuan.

Shenma's holding subsidiaries nylon chemical company and Jianyuan coal coke company plan to jointly invest in Ordos Shenma Jianyuan nylon Chemical Co., Ltd. with registered capital of 1 billion yuan. The joint venture will build a 300,000 t/a adipic acid project.