LB Group Announces Investments in Manufacturing Capacity
JIAOZUO, China — The board of directors at LB Group has approved investments that include a new titanium dioxide (TiO2) pigment finishing plant and the doubling of the production of titanium sponge. Construction is expected to begin in the first quarter of 2022.
The company will invest one billion RMB (approximately $157.6 million) at its site in Xiangyang, China. The investment will include the construction of a new 200ktpa TiO2 pigment finishing plant. Two TiO2 pigment finishing lines will be built, each with the ability to process 100ktpa of TiO2 pigment intermediate product.
The company is also doubling the production of titanium sponge, investing 442 million RMB (approximately $69.7 million) to double its production of titanium sponge at its site in Chuxiong in Yunnan Province. The site currently produces around 10ktpa titanium sponge. Two new chlorinators will provide 200ktpa titanium tetrachloride (TiCl4) of which 120ktpa will be sold externally, and 80ktpa will be used to help produce 20ktpa titanium sponge. Titanium sponge is typically used to make strong, light-weight titanium metal alloys.
LB Group also announced changes to the company’s senior management team. Benliu He has been appointed President, Haitao Zhang is now Vice President and HR Director, Pengsen Wu has joined the senior management team as Vice President and Compliance Director, and Ruiqing Tan has relinquished his role as Vice President for Marketing. His role as Deputy Chairman of the Board of Directors remains unchanged.
Learn more at www.lomonbillions.global.
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