China's Letone starts up rubber hose plant

Luohe, Henan – China’s rubber hose maker Letone Hydraulic started up a new plant for rubber hose and related products at its headquarters in Luohe, Henan this October.
 
This is phase one of Letone’s Smart Hydro Industrial Park with €214 million (1.65 billion yuan) total investment, the company told ERJ. The project broke ground in October 2017.
 
Today Letone has an annual capacity to produce 30 million metres hydraulic rubber hoses, 10 million units of hose joints, 20 million units of sealing and related products as well as a mixing capacity of 15,000 tonnes/year of rubber.
 
Scheduled for full operation in 2024, the project will raise the company’s total annual capacity to 120 million metres of rubber hoses, including 20 million metres of industrial hoses, the company told ERJ.
 
By 2024 Letone will also have an annual capacity to manufacture 100 million units of sealing and related products, 50 million units of hose joints and a total mixing capacity of 35,000 tonnes per year.
 
The project will create 1,100 new jobs and bring in €324 million annual revenue when in full operation, said the company.
 
A leading rubber hose maker in China, Letone reported €36 million annual revenue in 2018, up by 27% from 2017. Its 2018 net profit dropped 4% to €3 million.