KDX Window Film “Unaffected by Parent Company Default”January 23rd, 2019 by Emmariah Holcomb
KDX Optical film materials Co Ltd. is doing business as usual following its parent company’s default on a loan earlier this month. The incident left many in the industry curious about the company’s fate.
“Yes, our parent company failed to pay a loan last week, but now we’re trying our best to pay the loan in a short time …,” said George Li, KDX Optical Film Group vice president.
KDX’s parent company issued a statement on its current financial status and assured those in both the U.S. and China that its American business would not be directly impacted.
“KDX Optical film materials (shanghai) Co Ltd., aka KDX Window Film, is an independently operated company of Kangde Xin Composite Materials Group Co., Ltd. KDX Window Film’s day-to-day business, operation, production, and other cooperation are under control and have not been affected by Kangde Xin Composite Materials Group Co., Ltd.,” a portion of the release reads.
According to the company, it will continue to work and provide the same level of quality to its customers. Meanwhile, its manufacturing plant – Zhangjiagang Kangdexin Optronics material Co.,LTD. is still operating normally.
“The governor of the city of Zhang Jia Gang has formulated a comprehensive plan to ensure strict separation between the operation of products production and the financial markets. The government will provide all necessary policies and operating capital guarantees to ensure a steady production rate and operation in the future,” a portion of the release reads.
But as for the remainder of 2019, the industry should expect to see more from KDX on the American side.
“We will present more in the US market, you will see many [more] things [from us] that will happen in 2019,” said Li.