The factory was launched with a recent foundation stone laying ceremony in Funing County in east China's Jiangsu province. In addition to Swancor and Goldwind, the plant is backed by a local company called Jiangsu Tiande New Materials Science & Technology.
The project will be conducted in two phases. The initial phase involves a total investment of around CNY 136 million ($21 million). Swancor, Goldwind and Jiangsu Tiande have 60%, 27% and 13% stakes respectively.
The first phase project will be commissioned in the second quarter of 2015, when the plant will be capable of putting out 40,000 tonnes of resin a year.
The plant is also expected to conduct research and development into new resin products used on wind blades. The second phase will add an annual capacity of 60,000 tonnes to the facility, rendering it one of the largest and technologically advanced production bases of its kind in China.
Swancor's clients include the top ten wind blade manufactures on China's mainland, where it has a market share of 20-25%. The new plant will cater solely to the needs of Goldwind.
Swancor is the only producer in Asia that holds GL certification for its resin products used on wind turbine blades. Apart from supplying leading turbine manufacturers in China, it ships products to companies in Europe and America, such as Siemens.