Fuwei Films (Holdings) Co., Ltd. (NASDAQ: FFHL) recently declared that it will be closing its Dornier line of production as early as possible. Fuwei is known for manufacturing and supplying quality plastic films using the BOPET technique that is widely used to package and wrap up cosmetics, food items, medicine, and alcohol, etc.
Its third line assembles base film for solar back sheet along with high-performance electric insulation film and TFT-LCD optical film with an annual design capacity of 23,000 metric tons and thickness between 38 and 250µm.
From the time of installation, the line has not obtained adequate purchase orders, and chances for it to be put under production any time soon seem improbable. The Board of Directors has given permission and notified the executives to sell it via open bidding to enhance the working capital.