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Shandong Helon sells new shares to replenish working capital.

Chemical Business Newsbase

| July 26, 2009 | COPYRIGHT 2000 Elsevier Engineering Information, Inc. (Hide copyright information)Copyright

Shandong Helon Co Ltd, the leading Chinese producer of viscose fibres, plans to raise up to RMB Yuan 500 M for use as working capital via the issue of new shares. Recent investments by the company have included a 30,000 tonne/y facility for differentiated viscose staple fibres and upgraded technology for a 20,000 tonne/y cotton pulp unit at Weifang, Shandong province. Xinjiang Helon, in which Shandong Helon holds a 55% stake, has invested in 120,000 tonne/y cotton pulp and 100,000 tonne/y viscose staple fibre projects, in addition to upgrading technology on a 50,000 tonne/y …

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