Sichuan Lomon applies for short-term loan of USD63.3 million

It is reported that Sichuan Lomon is applying for another short-term loan of USD63.3 million (365 days) after the first loan of USD118.7 million early this year. In detail, 75% of the second batch of loan capital will be used to purchase raw materials and pay for fees of electric power, fuel gas and labor cost. The rest part will replace the company's high cost loan to cut financial cost, according to CCM’s November issue of TiO2 China Monthly Report.

In addition, Sichuan Lomon invites public bidding of equipment purchase for the project of TiO2 clearer production technology laboratory. There are two TiO2 projects under construction in Sichuan Lomon: one is 100,000t/a chloride process rutile TiO2 project which will be put into operation in 2013 and the other is the 100,000t/a sulfate process TiO2 project which will be put into operation at the end of 2012, according to the company's plan. 

 

Sichuan Lomon is ambitious to develop its TiO2 business and it is one of top 500 private enterprises in China with total import & export value of USD201 million in 2011. Sichuan Lomon produces a series of rutile TiO2, such as R996, R952, R108, R997, R981, R971, etc.  Besides, Sichuan Lomon produced 150,000 tonnes of rutile TiO2 in 2011 and the type of R996 accounts for 80.8% of total output volume. Sichuan Lomon's first TiO2 plant was built in 2001 with a capacity of 20,000t/a. After years of technology reformation, its capacity has reached 200,000t/a at the end of June 2012. Sichuan Lomon announces that the company's rutile TiO2 capacity will reach 300,000t/a when the 100,000t/a rutile TiO2 project is put into operation at the end of 2012. At that time, Sichuan Lomon's capacity will be the biggest in China and even in Asia, while ranking the 6th worldwide. Sichuan Lomon produced 86,000 tonnes of TiO2, with an operating rate of 122.8% in H1 2012. And the company's degree of self-sufficiency of titanium concentrate ore is 70% to 80%.

Source: TiO2 China Monthly Report 1211

http://www.cnchemicals.com/Newsletter/NewsletterDetail_7.html

Content of TiO2 China Monthly Report 1211:

Supply & Demand 3

China's TiO2 export and import situation in Sept. 2012 3

Company dynamics 3

Henan Billions to acquire Jiangxi Tianguang's 75% equitities 3

Henan Billions to get chloride process technology consulting from Ti-Cons 4

Nanjing Titanium applies for backdoor listing 6

Sichuan Lomon applies for short-term loan of USD63.3 million 7

Upstream 8

Titanium feedstock import situation in China in Sept. 2012 8

Output and price trend of domestic titanium concentrate ore in Sept. 2012 9

Sichuan Non-ferrous starts ilmenite flotation reagent production line 10

Downstream 10

Ink producers' performance in Q1-Q3 2012 in China 10

Paper making industry needs further integration 11

Domestic auto output increases in Q1 - Q3 2012 12

Price Update 13

TiO2 price declines slightly in China in Nov. 2012 13

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