Shandong Laiwei New Materials Co signed an agreement on June 5 to establish a high-performance fiber production base in Wuhan Economic & Technological Development Zone (WEDZ).
The project will focus on producing ultra-high molecular weight polyethylene fibers, with a projected annual capacity of 10,000 metric tons.
Laiwei New Materials is renowned for its expertise in the research, development, production, and sales of high-end composite materials. The company has achieved full autonomy over its key technologies and has localized its production equipment and materials. Its product range includes polymer materials and advanced ceramic materials.
Laiwei New Materials plans to develop a second-phase high-performance composite materials production line in WEDZ. These materials, known for their lightweight, high strength, and corrosion resistance, have extensive applications in automotive manufacturing, drone production, and the burgeoning eVTOL (electric vertical take-off and landing aircraft) sector.
This initiative is expected to enhance the high-quality development of the automotive and low-altitude economy industries in the zone.
