- State: Arizona
- Country: United States
- Listed: May 17, 2018 7:27 am
- Expires: 79 days, 8 hours
Company`s development history
China National Non-Metallic Minerals Industry Corporation (Group) (now China National Materials Group or Sinoma Group) signed a cooperation agreement with Zibo National New & Hi-tech Industrial Development Zone`s Management Committee (Zibo Hi-tech Zone) in October 2003.
Sinoma Jinjing Fiberglass Co., Ltd. (hereinafter referred to as “Sinoma”), founded on January 18, 2004, with registered capital of RMB 200 million, is established jointly by Sinoma Fiberglass and Xu Ri new materials Co., Ltd. with contributive capital of 51% and 49% equity respectively.
On May 23, 2004, we made investment for construction of an alkali-free glass fiber wiredrawing production line (#2 kiln) with annual output of 36 thousand tons in our own Eastern Factory.
On September 18, 2004, we made investment for construction of glass fiber products Industrial Park, which covers an area of 320 acres, with annual output of 70 million square meters of fiberglass tissue production line in our own Western Factory.
Sinoma Jinjing Co. Ltd. completed the acquisition of 340 acres of land as well as related to the estates in January, 2005.
The project of annual output of 36 thousand tons of alkali-free glass fiber wiredrawing production line completed, and was put into operation on June 18, 2005; After the completion of the project,the company’s annual output production scale achieve 52 thousand tons.
The project of annual output of 70 million square meters of fiberglass tissue production line completed, and was put into operation on September 21, 2005.
Sinoma Jinjing Co. Ltd. signed a joint venture agreement with PPG Industries, Inc. (NYSE: PPG) on October 28, 2005.
The agreement only covers Sinoma Jinjing`s Eastern Factory`s business and related assets.
Sinoma Jinjing Fiber Glass Co., Ltd. ( hereinafter referred to as “ Hong kong Company”), founded on March 24,2006, with the registered capital of USD 13,500,000 respectively, is established jointly by the company and PPG Industries, Inc., PPG Sinoma Jinjing Fiber Glass Co., Ltd. (hereinafter referred to as “joint ventures”) founded with the registered capital of USD 26,500,000 in Zibo. Zibo Sinoma Jin Jing Fiberglass PPG Trading Co.,Ltd. (hereinafter referred to as “trading company”) founded on August 17,2006, in Zibo, with the registered capital of $490,000 and $10,000 respectively.
By finalizing the acquisition of two wiredrawing production lines and related assets on July 1, 2006, including 340 acres of land, we officially launched the overall technical transformation and Production Upgrade.
Our second fiberglass tissue production line which production capacity is annual output of 60 million square meters and was put into operation In May, 2008,
On April 21, 2010, Sinoma Jinjing Glass Co., Ltd. was awarded the “Manufacture License of Special Equipment People`s Republic of China” issued by the State Administration of Quality Supervision (AQSIQ), inspection and Quarantine, marking our company entered the field of GRE high-pressure pipeline. In August, we completed the first phase of the 8 production lines project, with annual production capacity of 4000 tons. After the production of 2 large-caliber high pressure pipe lines, with annual production capacity of 7000 tons. (DN40-DN800 pressure rating: 25 MPa ~1.6 MPa) in November 2012. After the production of 4 large-caliber high pressure pipe lines, with annual production capacity of 7000 tons.
On August 31, 2010, Zibo high tech Industrial Development Zone State-Owned Assets Investment and Management Co., Ltd, as a shareholder increased registered capital RMB 6,859,070 in cash for Sinoma Jinjing Fiberglass Co., LTD. After the capital increase, is established jointly by China National Materials Group Corporation, Shandong Jinjing Technology Co., Ltd and Zibo high tech Industrial Development Zone State-Owned Assets Investment and Management Co., Ltd. with contributive capital of 50.01%, 48.05% and 1.94%.
In October, 2014, our company’s third fiberglass tissue production line put into production which annual capacity is 35,000,000 square meters. On the basis of the first two lines, the production process and equipment capacity is upgraded with the combination of many years of experience and technology. Now we has a number of batch testing of new products, including PCB, VIP board, Gypsum Veneer, decorative caulking tissue, high density separator tissue and external wall insulation tissue and other new tissue etc.
On December 21, 2015, Our Sinoma Jinjing signed this Equity transfer framework agreement with PPG Industries, Inc in Shanghai. And has agreed to purchase a 50 percent stake from PPG Sinoma Jinjing Fiber Glass Company Ltd for $1.
On December 28, 2015, the company held an equity delivery meeting with PPG Industries, Inc in Shanghai, signed and exchanged equity delivery series of documents, signed a series of equity settlement documents. Sinoma currently owned (100 pe
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