Sunpower lands 77 million yuan contract from Jiangsu Hailun Petrochemical

China yuan coins

Sunpower Group obtained a 77 million yuan contract from repeat customer Jiangsu Hailun Petrochemical to provide heat exchanger equipment for a technology upgrading project at a PTA production facility, the company said in a filing to SGX Thursday.

PTA is a chemical used in the production of polyester.

Sunpower expects to complete delivery of the products — which include condensers, buffer tanks and heaters — by the first half of next year, with the positive financial impact to be seen in the current and next financial years, the filing said.

The project is under Sunpower’s manufacturing and services (M&S) segment.

“Our longstanding relationship with Jiangsu Hailun goes all the way back to 2010 and we are privileged to be working with them once again,” Guo Hongxin, executive chairman of Sunpower, said in the statement.

“As a key business segment, M&S is an integral part of the group’s expansion strategy,” he added. “Our strength in the M&S segment will complement the rapid growth of our Green Investments business which the group has identified as its primary value creator and growth driver for the long term.”

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