China Rare Earth Holdings
China Rare Earth Holdings is engaged in the manufacture and sale of rare earth products and refractory products. It operates in two business segments. The rare earth segment is engaged in the manufacture and sale of rare earth products, including fluorescent products. The refractory segment is engaged in the manufacture and sale of refractory products, including high-temperature ceramics products and magnesium grains.
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China Rare Earth to develop new LCD polishing powder line
China Rare Earth Holdings is developing a new production line that will see output capacity of high-end LCD polishing powder reach 2,000 tons by the end of 2010.
High-end LCD rare earth polishing powder is a recently developed high-tech rare earth material mainly used for precision polishing of large HD screen, LCD screen and 3G mobiles.
With the rising demand for large PC and LCD screens and the fact that increasing number of LCD screens are being produced in China, demand for high-end LCD rare earth polishing powder in China is rising quickly. Hiowever there is currently no domestic producer able to produce high-end polishing powder in large quantites.
The production line is currently planned to be developed in two phases, the first phase of which is expected to be operational by the end of 2009 and the second phase to commence operation in or about the second quarter of 2010. When the first stage of development is completed, the Group’s annual production capacity of polishing powder will be increased to 1,000 tons.
The total investment is currently expected to be about RMB200 million (HK$227 million). The production line will be located within the group’s existing production site in Yixing, Jiangsu province.
