Jiaozuo, China, January 16, 2020; In 2019 Lomon Billions acquired 98.39% equity in Yunnan Metallurgical Xinli Titanium Industry Co., Ltd (Xinli Titanium) in Chuxiong, Yunnan Province, China. The acquired manufacturing site was designed to produce chloride titanium dioxide (TiO₂) pigment, titanium slag, and titanium sponge and employs around 1000 people.
Since the acquisition Lomon Billions has transformed Chuxiong site, re-furbishing and restarting all areas of production. Its current production capacity is around 60kt/pa of chloride TiO₂ pigment, 80kt/pa of titanium slag, and 10kt/pa of titanium sponge. The company plans to construct new production lines at Chuxiong that, along with debottlenecking of current capacity, will eventually increase production capacity to around 300kt/pa of chloride TiO₂ pigment, 200kt/pa of chloride titanium slag, and 50kt/pa of titanium sponge.
At a re-opening ceremony on 9th January Mr Gang Xu, Chairman of Lomon Billions said, “We plan to invest a total of around RMB 10 billion (USD 1.44 billion) in new projects. This investment will help us to grow our titanium business, continue our strategy of vertical and horizontal integration, and deliver significant chloride TiO₂ pigment production growth for sale in the global market.”