April 19, 2007  According to a letter of intent TEDA and Reichhold sign on working with each other, the two companies will initiate a project involving a total investment of USD 40 million and a registered capital of USD 12 million. The anticipated production in the first year will amount to RMB 100 million, and that figure will climb up to RMB 500 million in 2011. The project will produce 50,000 tons worth of synthetics, most of which will be sold domestically and a small portion of which will be sold to neighboring countries in East Asia and Southeast Asia. Customers will be those in the business of producing electric blades.