Zhejiang NHU Limited announced that it is hoping to raise RMB 471.1 million (approximately USD 69 million) for investment in several important projects including the relocation of its Vitamin E production.
NHU currently produces Vitamin E at its Xinchang facility where it has a capacity of around 12,000 MT per annum of Vitamin E oil. However, tighter environmental regulations and a desire to produce Vitamin E more efficiently has prompted the company to relocate this production.
The new facility will benefit from upgraded machinery and is expected to achieve significant reductions in waste water emissions. NHU has confirmed that the relocation of its existing facility will not result in any additional capacity.
NHU has stated that due to the relocation, its output will be reduced during the coming year or two. The company stressed however that they will have sufficient volumes available during this period to meet the needs of their strategic customers.