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Sunpower wins contracts worth 71.7m yuan from Wanhua Chemical Group
MAINBOARD-LISTED Sunpower Group has secured a series of manufacturing and services contracts worth an aggregate value of 71.7 million yuan (S$13.9 million) from its strategic partner Wanhua Chemical Group, it said on Wednesday.
Under the contracts, Sunpower will provide energy-saving piping products including insulating pipe supports, low-friction pipe supports and cryogenic pipe supports to Wanhua Chemical.
Delivery of the products is expected to be completed in 2019 and will have a positive impact on the group's financial results.
Wanhua Chemical is a world-class player in polyurethanes and petrochemicals, Sunpower said. Sunpower is a strategic supplier to Wanhua Chemical and has supplied a number of heat exchangers to its core projects.
Guo Hongxin, executive chairman of Sunpower, said: "For many years, Sunpower has been a trusted and all-round solutions supplier to Wanhua Chemical, which attests to the strong and long-standing bonds that we build with our strategic partners. This also underscores Sunpower's technological and manufacturing capabilities in serving the leading industry players. Over the years, leveraging on its strong expertise and extensive experiences, Sunpower has established a solid track record in supplying high-quality equipment and environmental solutions to major petrochemical industry players such as BASF, BP, Shell, CNOOC, CNPC, Sinopec and more."