Diab invests to meet growing demand of core material in China
Diab is investing in a new production line for PET foam in China to meet the growing demand from the wind industry. The investment will be made in Diab's existing facilities in Zhangjiagang, China, and is scheduled to be operational by the end of 2021.
The increased demand of PET core material in the wind energy sector in China drives the investment of a PET foam production line. The production line in Zhangjiagang will produce Diab's Divinycell PET range of products. Providing excellent properties, the material is designed to meet blade designs in an optimal way with the aim to reduce the cost in wind rotor blade manufacturing.
“The investment in China is the consequence of several multiyear contracts signed with major China based Wind OEMs over the last couple of months. The plan is to start supplying the local Chinese market from the new extruder in 2021,” says Tobias Hahn, CEO at Diab.
The China investment is the fifth in a series of investments for production of PET core foam with locations in US, Sweden, India, upgrading of an existing production line in Italy and now in China. The total capacity of PET core foam will make Diab a global leader in PET core foam production.
For further information, please contact:
Joakim Twetman, Head of Business Area Industry, Ratos, +46 70 339 16 66, joakim.twetman@ratos.se
Tobias Hahn, CEO, Diab Group, +46 430 163 00
Helene Gustafsson, Head of IR and Press, Ratos, +46 70 868 40 50, helene.gustafsson@ratos.se
About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Consumer & Technology, Construction & Services and Industry. In total, the companies have SEK 38 billion in sales and EBITA of SEK 1.8 billion. Our business concept is to develop mid-sized companies headquartered in the Nordics that are or can become market leaders. We enable independent mid-sized companies to excel by being part of something larger. A focus on people and leadership, culture and values are key components of Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.
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