October 16, 2024 – LG Chem, a leading chemical company, has recently announced its investment in Guangdong Zhongyin Plastics Co., Ltd. (hereinafter referred to as “Zhongyin Plastics”), with a capital injection of RMB 1.15 million, acquiring a 4.7619% share in the company. This move signifies LG Chem’s high recognition of Zhongyin Plastics and heralds a deep collaboration between the two parties in the field of plastic recycling.
Zhongyin Plastics, established in March 2020, is located in the scenic B Zone of the South China Renewable Resources Industrial Park in Wuhe Town, Guangning County, Zhaoqing City, Guangdong Province, occupying an area of 33,000 square meters. The company specializes in the recycling, circulation, processing, and reuse of modified plastics and plastic renewable resources, transforming various types of waste plastics into high-value recycled plastic granules. Its main products include recycled ABS granules, recycled HIPS granules, and recycled PP granules, which are widely used in new energy products, home appliances, computer peripherals, automotive parts, office supplies, household goods, and many other fields.
AsiaMB has learned that Zhongyin Plastics adheres to the concept of circular economy and is committed to building a closed-loop industrial chain of “plastic recycling – plastic regeneration – sales of recycled plastic products – recycling”. To achieve this goal, Zhongyin Plastics has established a comprehensive industrial chain system, strictly controlling every link from recycled plastic collection to plastic particle production. The company is equipped with multiple sets of advanced washing equipment, large-scale fully automatic high-precision electrostatic sorting equipment, spectral color sorting machines, and pelletizing production lines, ensuring a dual improvement in production efficiency and product quality. It is worth mentioning that Zhongyin Plastics also plans to introduce optical sorting machines to replace traditional physical electrostatic material sorting methods, further improving sorting accuracy and efficiency.
In recent years, Zhongyin Plastics has achieved remarkable results in upgrading and transformation. Through the upgrading of four pelletizing machines and one spectral color sorter, the company’s production efficiency and product quality have been significantly improved. In the first half of this year, Zhongyin Plastics’ output value exceeded RMB 110 million, with a main revenue of approximately RMB 97 million, and an increase in production of 20,000 tons. To meet the growing market demand and drive the company’s sustainable development, Zhongyin Plastics is actively planning to add a new 200-mu factory building, with an expected increase in capacity of over 100,000 tons. This initiative will further enhance Zhongyin Plastics’ production capacity and market competitiveness, laying a solid foundation for the company’s future development.