MAE Spa receives funding to build PAN precursor plants in China
New financial support enables the company to complete order for design and construction of new carbon fiber precursor production facilities.
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Announced on July 6, chemical fibers machinery producer MAE Spa (Piacenza, Italy) has received financial support from banking group UniCredit (Milan, Italy) of €35 million, to complete a €73.5 million contract for the design and construction of polyacrylonitrile (PAN) carbon fiber precursor plants in China.
MAE Spa is a market leader in the design, construction and installation of high-tech systems for the production of special chemical fibers, with a core focus on PAN precursor plants. The company created an operating branch in Shanghai in 2005 to support Asian orders, which cover approximately 50% of its revenues.
Paola Rovellini, chief financial officer at MAE Spa, says, “[This order] is a new piece that confirms MAE as a primary and qualified interlocutor in a market niche that is gradually growing more and more.”
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