On August 23rd, Levima Advanced Materials Co., Ltd. and Wison (China) Investment Co., Ltd. jointly invested in the establishment of Levima Wison (Jiangsu) Advanced Materials Co., Ltd. Levima Advanced Materials invested 455 million yuan, accounting for 65% of the registered capital of the joint venture company. Wison CIC invested 245 million yuan, accounting for 35% of the registered capital of the joint venture company. Levima Wison Advanced Materials is mainly engaged in POE (polyolefin elastomer) and other high-end olefin materials business, planning to build 300,000 tons/year POE project, of which the first phase of 100,000 tons/year and the second phase of 200,000 tons/year to produce POE photovoltaic film materials, toughening materials and other high-end products.
At the signing ceremony of the Joint Venture Agreement of the Levima-Wison POE Project held at Levima Innovation Building in Changzhou City, Zheng Yueming, Chairman of Levima Group, Chairman and President of Levima Advanced Materials, and Hua Bangsong, Chairman of Wison Group, and other high-ranking leaders of the two companies witnessed the signing ceremony. Zhao Haili, Chief Operating Officer of Levima Advanced Materials, and Liu Hongjun, President of Wison Group and Chairman of Wison CIC, signed the JV Agreement on behalf of their respective companies.
POE is a versatile thermoplastic with high elasticity, making it an ideal material for use in a range of industries, including photovoltaic, automotive, and other fields. Its unique properties make it an essential raw material for photovoltaic film and an excellent performance automotive plastic toughening modifier. POE is also a highly adaptable material, suitable for use in wire and cable, home appliances, masks, waterproofing rolls and tubes, and other applications after processing and modification.
In recent years, China's photovoltaic, automotive, and other industries have experienced rapid growth. The "new trio" of electric vehicles, lithium-ion batteries, and photovoltaic products represents a significant growth area in China's foreign trade exports. According to data from the China Photovoltaic Industry Association, domestic PV installations reached 78.42GW in the first half of the year, representing a 154% increase compared to the same period in 2022. Global PV installations are expected to reach 305-350GW in 2023, up from the original forecast of 280-330GW. According to the China Association of Automobile Manufacturers, in the first half of this year, Chinese automobile enterprises exported a total of 2.14 million vehicles, representing a year-on-year increase of 75.7%. Of the exports, 534,000 were new-energy vehicles, a year-on-year increase of 1.6 times. The rapid development of the photovoltaic, automotive, and other industries is driving continued growth in the POE market. There is a broad range of potential applications and development opportunities.
Levima Advanced Materials has focused its strategic layout on directions such as new energy materials and has been the first in China to develop EVA photovoltaic film materials, with products that are in a leading position in the industry. The company has accumulated rich experience in project construction, production operations, process development, and market sales, and boasts a professional team. Wison CIC, after years of accumulation, has independently developed a complete set of POE process technologies with industrialization conditions and has transferred the technologies to the newly established joint venture, Levima Wison Advanced Materials, which lays a solid foundation for the POE project's implementation and construction.
After the commissioning of the POE project, Levima will have both EVA and POE photovoltaic film products, further enriching the layout in the field of new energy materials, enhancing the profitability and core competitiveness, and striving to build a platform-type enterprise of advanced materials, forming a leading industrial cluster in several sub-fields of advanced materials.
