August 4 -- Shandong Rike Chemical (300214) intends to invest 160 million yuan in powdered rubber production, reports Yicai.com, citing a company filing.

Of that total, 10.8 million yuan will be invested in Zhanhua Yixing Rubber and Plastic Technology, accounting for 90 percent of its registered capital. The latter firm will then launch a production facility for modified plastic agent, which will have an annual production capacity of 50,000 tons.

Shandong Rike Chemical was founded in 2003 and produces PVC processing aids and PVC impact modifiers.