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Zhejiang Hailide New Material develops tire cord fabric&auto wire project

Zhejiang Hailide New Material Co.,Ltd. recently announced its 2017 annual report.

In 2017, the company realized 3.186 billion yuan of operation revenue, year-on-year growing 24.14%;and 314 million yuan of net profit belonging to parent company,year-on-year increasing 22.99%.

The company said that it further expanded auto wire and tire cord fabric's production, which helped the company realize sales and profit growth in 2017. Amongst, Polyester industrial filament sales increased 20.32% to 1.749 billion yuan, and tire cord fabric surged 53.98% to 631 million yuan.

In the third quarter of 2018, the company has 15,000 tons/year of tire fabric cord and 40,000 tons/year of auto wire production lines coming into operation.

Compared to over 600,000 tons/year of tire cord fabric demand in the world, Hailide has enough grow space in the future, the company said.