Fuwei Films Announces EUR 10.7 Million Letter of Credit to Purchase New Production Line Equipment

Fuwei Films FFHL today announced that its wholly-owned subsidiary, Fuwei Films Co., Ltd. has obtained a EUR 10.7 million Letter of Credit from Bank of China, Weifang Branch to use towards purchasing new production line equipment, including self-funded 7.37 million EUR and 3.33 million EUR credit line from Bank of China, Weifang Branch. Fuwei Films previously announced that it entered into a contract with Lindauer Dornier GmbH, a German equipment supplier, to purchase equipment for its thick-film BOPET production. The total amount to purchase the new production line equipment is 16.45 million EUR. Prior to that, a prepayment of 5.08 million EUR has already been made by Shandong Fuwei.