Press Release: Jushi Group announced the start-up of its new Fiberglass plant in Suez/ Egypt

HELM AG is the exclusive distribution partner for Jushi in Germany, Austria and Switzerland as well as for large thermoplastic producers across Europe.

Tongxiang/China, Hamburg and Aachen/Germany
December 3, 2013

The worldwide leading Chinese Fiberglass producer Jushi is now opening its new plant in Egypt. As announced in 2012 and in the context of the extension of Jushi’s presence in Europe, the new production facility has been set up in the industrial zone of Suez/ Egypt, in proximity to Port Said, from where the delivery of Fiberglass products to Europe will take place.

After the light-up of the furnace on 27 November 2013, the production will take off a month later. This is the phase 1 with 80,000 tons annual capacity and Jushi’s commitment as a long-term and reliable supplier for Europe.

Mr. Zhang, CEO & President of Jushi explains: "It is part of our corporate strategy to be a truly global supplier of Fiberglass systems for our worldwide customers. We are proud to put our plant in Suez on stream as our first extension outside of China." He adds: "In 2014, our focus will entirely lie on making high quality global products and start the qualification at our customers from the new Suez production site."

By 2017/18, the total capacity of the Egyptian site is planned to reach up to 200,000 tons p.a. This plant serves as strategic facility to intensify Jushi’s distribution business in Europe, as well as Middle East and India.

Mr. Zhang, CEO & President of Jushi, continues: "We are very pleased to expand our European business both in thermoset as well as in thermoplastic products. We will furthermore continue our worldwide growth and therefore announce our further plans soon."

In the Egyptian plant, Jushi will produce the full range of traditional products, but with a strong focus especially on the growing thermoplastics market in Europe. New chopped strands for PA, PBT and PP polymers and LFT rovings will round-up the portfolio and are offered to the demanding European market.

Axel Viering, Executive Director of the Business Unit Derivatives at HELM AG, emphasizes: "The start of the production plant is another milestone for the development of our business. HELM AG pursues a clear growth strategy regarding Fiberglass. The new production site in Egypt supports us to strengthen and expand the strategic partnership."

Kirstin Kettler, Head of the Fiberglass business at HELM AG, comments: "We, as the exclusive distribution partner for Jushi in Germany, Austria and Switzerland as well as for large thermoplastic producers across Europe, are delighted to provide the full technical and commercial service in the proven way for our customers, which will also be served from the Egyptian plant as of early 2014."

Michael Effing, Senior Advisor to HELM AG and CEO of AMAC, explains: "I am very pleased to see that Jushi is coming closer to our customers in Europe and specifically with the focus on the thermoplastic materials such as chopped strands and LFT. The market for thermoplastic reinforced materials is growing significantly driven by the European automotive industry. Jushi is committed to supply top quality products to both thermoplastic and thermoset applications."