The leading ASU manufacturer in China, Hangzhou Hangyang Co Ltd, is to be listed on the Shenzhen Stock Exchange, issuing 71 m shares. Following listing, the total sum of shares will reach 401 m.
The main remit of the company is manufacturing and sales of air separation plants, industrial gas products and petrochemical equipment. Capital raised in shares issuance will contribute to the following six projects. Total investment is anticipated at RMB 781 m.
• Technology improvement of 80000m 3/h large-scale ASUs using domestic equipment and technology
• Large-scale ethylene cold box
• Technological investment of high and medium pressure plate heat exchangers for internal compression type ASUs
• Technology improvement of the capability of turbo-compressors for large scale ASUs
• New 20000 Nm3/h ASU project for Henan Hangyang Gases Co Ltd
• Two sets of 25000 Nm3/h oxygen manufacturing units and associated projects for Jilin Hangyang Gases Co Ltd.