Jushi's new production plant at Egypt

Wednesday, November 27, 2013
News Release on the Start up of Jushi Egypt 80,000 Ton/Year Fiberglass Production Line

Jushi Group announces that its 80,000 ton/year fiberglass production line in Egypt will be started up at 15:58 Cairo time (5:58am PST)in November 27, 2013 and fiberglass products are planned to roll out from the line in the second half of December 2013.  The construction of the line was started in early 2012 and finally completed after 22 months due to day-and-night hard work and unselfish contribution of all the employees involved in the project. The project will mark a major step of Jushi Group on its internationalization path and enable Jushi Group to enhance its core competitiveness by using the local resources and locating production near customers and to speed up the process of reducing the export volume from domestic production locations and supplying products from overseas locations to overseas customers.
Jushi Egypt for Fiberglass Industry S.A.E is Jushi Group's wholly-owned subsidiary located near the Red Sea in the Suez Economic and Trade Cooperation Zone, which is a national-level overseas industrial park. The total planed capacity of Jushi Egypt is the 200,000 tons with the 80,000 tons for the first phase of the project. The production line will represent the world-class fiberglass production technology and equipment and aims to better serve the European, Middle East and Indian markets. The product mix of Jushi Egypt will mainly consist of direct roving, assembled roving and chopped strands.
The project is the first wholly-owned overseas greenfield fiberglass production project by the Chinese fiberglass industry and also the first and biggest overseas engineering project of Jushi Group in its internationalization drive. The project will to greatest extent satisfy customers' demand for a shorter product transportation route and improved customer service. The experience accumulated during the implementation of the project will have a significant and profound impact on the future growth of Jushi Group.