On 5 November, Qixiang Tengda, a core corporation majoring new chemical materials under Cedar Holdings was awarded the Firmest Industry Innovator 2019 on China Business 2019 Annual Meeting on Enterprise Competitiveness.
Organized by China Business Journal and National School of Development at Peking University, the annual meeting witnessed extensive discussion between guests from governments, corporations and academic circle over issues including the global economy and Chinese opportunities, self-owned brand upgrade and technological innovation. The results of the 2019 Corporate Happiness Index were announced as well.
Cedar Holdings and its subsidiaries and branches stick to the mission - develop industry to make China great again and create values to give back to society. Among several hundred companies that competed for the prize, Qixiang Tengda stood out of the crowd, thanks to its insistence on the industry, and its quality expansion in high value-added fine chemicals and the field of new chemical materials.
In August this year, the construction of Tianchen Qixiang, a nylon and new materials industrial base with an annual capacity of 1 million mt jointly invested by Qixiang Tengda and China Tianchen Engineering Corporation (TCC) was officially launched. Once completed, this project will enable a breakout of technology monopoly of foreign countries as well as ADN technology and industry take-off in China.
On 23 July, Qixiang Tengda signed agreements with Evonik and ThyssenKrupp, two top-notched international companies from Germany to introduce the world's most environmentally friendly PO process into production.
Besides, to provide propene as a raw material for PO and adiponitrile, Qixiang Tengda upgraded the annual output of the propene dehydrogenation from 450,000 mt / year to 700,000 mt / year.
With the propane dehydrogenation and PO project, Qixiang Tnegda will be able to expand horizontally from C4 to C3.
In recent years, Qixiang Tengda, supported by Cedar Holdings, has been making a leapfrog development, with expanding business landscape across the globe and continuous growth. On 2019 Fortune China 500 list released in July, Qixiang Tengda ranked 302nd, 32 spots up from the previous year.
Currently, Qixiang Tengda is strengthening technology R&D and capacity cooperation with top-notched chemical companies from Germany and Korea in fine chemicals and new chemical materials and striving to achieve technology breakthrough in key areas. Qixiang Tengda aims at becoming a world-class company with coverage of the whole chemical industry chain and bumping China fine chemical and new materials sector into the global top tier.