CSP Victall Signs Agreement to Build Second Manufacturing Facility
Tangshan, Heibei, China --- CSP Victall (Tangshan) Structural Composites Co., Ltd. (the "Joint Venture"), a joint venture of Continental Structural Plastics (CSP) and Qingdao Victall Railway (Group) Co., Ltd., announced today it has signed an agreement with Wujin National Hi-Tech Industrial Zone officials to build a manufacturing plant there. This will be CSP Victall's second manufacturing plant in China. This area was selected due to its close proximity to Shanghai, the Yangtze River Delta, and the operations of several major auto makers, including CATL, JMC, SAIC, GM, VW, Land Rover, Geely, Qoros, and BAIC Changzhou.
The CSP Victall plant, expected to be approximately 36,000 square-meters when completed, will manufacture a number of components for the Chinese auto industry, including battery boxes, pickup boxes and Class A body panels. Additional details about the facility will be announced at a ground-breaking ceremony March 2019.
CSP Victall's first facility, located in Tangshang, opened in 2015. The 38,000 square-meter location currently manufactures composite components for the automotive and heavy truck markets in China. The joint venture also compounds and sells sheet molded compound (SMC) raw materials out of this facility.
About Qingdao Victall Railway Group
Established in 2002, Qingdao Victall Railway and its affiliates are a leading Chinese manufacturer of modular products and parts for high speed trains, intercity trains and other transportation equipment. The company also offers after-sales service at locations in Beijing, Shanghai, Tangshan, Changchun, Guangzhou, Changsha, Wuhan, Nanjing, Hangzhou, Jinan, and Qingdao, China, as well as a service network in Europe. Qingdao Victall Railway employs more than 3,000 people through its four wholly-owned subsidiaries and two rail-related joint venture operations.
About Continental Structural Plastics
Continental Structural Plastics, a Teijin Group company, has provided leading-edge technologies in lightweight materials and composite solutions for the automotive, heavy truck, HVAC and construction industries for nearly 50 years. Headquartered in Auburn Hills, Michigan, CSP provides full-service engineering support, and holds multiple patents covering materials development and manufacturing processes in composite materials formulation, design and manufacturing technologies. The company has operations on three continents and more than 4,200 employees.
About the Teijin Group
Teijin (TSE: 3401) is a technology-driven global group offering advanced solutions in the areas of environmental value; safety, security and disaster mitigation; and demographic change and increased health consciousness. Its main fields of operation are high-performance fibers such as aramid, carbon fibers & composites, healthcare, films, resin & plastic processing, polyester fibers, products converting and IT. The group has some 170 companies and around 19,000 employees spread out over 20 countries worldwide. It posted consolidated sales of JPY835 billion (USD 7.6 billion) and total assets of JPY 986.2 billion (USD 9 billion) in the fiscal year ending March 31, 2018.