Lihua International, Inc.
Lihua International, Inc. is a copper clad aluminum (CCA) superfine magnet wire producer in China. Magnet wire is the basic building block of a range of motorized appliances and is mainly used for electrical conductivity.
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Lihua ramps up copper wire production capacity
Lihua International Inc (Nasdaq:LIWA) announced an expansion to its production capacity, the Chinese based manufacturer has begun work on four new high speed production lines. The extension is expected to increase monthly production considerably. Lihua is currently 2009's top performing IPO, with a 152 percent increase in stock price since it began trading on the Nasdaq Exchange last month.
Through its two wholly-owned subsidiaries, Lihua Electron and Lihua Copper, the company manufacturers copper replacement products for China's rapidly growing magnet and fine wire market. Lihua's products include copper-clad aluminium wire ("CCA") and recycled scrap copper wire. Primarily Lihua service domestic markets in China, direct to manufacturers and also through distributors.
The four new proprietary high speed manufacturing lines will increase Lihua's copper wire capacity from 1,000 metric tons per month to 1,500 metric tons per month. CCA wire capacity will improve from 500 metric tons per month to 600 metric tons per month.
Earlier this year, Lihua also began utilizing refined or recycled copper to manufacture and sell low content oxygen copper cable and copper magnet wire to its existing customer base. Lihua's copper recycling facility operates two horizontal smelters for a current production capacity of 25,000 tons per annum.
According to Lihua, its proprietary copper-cleaning technology, which produces 99.96 percent copper purity, puts the Company in a strong position in the world's largest addressable market for copper consumption. China ranks as the largest copper consuming country in the world with a market share of approximately 22 percent of global demand.
Lihua Chairman and Chief Executive Officer, Jianhua Zhu commented on the company's development through a staged growth strategy;
"We are leveraging our fine wire expertise to develop new products and processes while aggressively growing our production capacity to meet surging domestic demand ... Our highly scalable production facilities and competitive supply chain advantages allow us to steadily add capacity while maintaining healthy margins."
Other Lihua International, Inc. news
- Lihua International secures first customer contract for copper anode product with major Chinese copper and metal conglomerate
2010-08-17 - Lihua International's profit soar as Chinese demand drives copper sales
2010-04-01
