The first plant of ATP Polymer is in the city's Dongguan Industrial Park to produce thermoplastic polymers, which is used in wire & cable in 2007.
The second plant was invested more than US$20 million in construction, which has been fully operational in the year 2021.
"The positive decision is a continuation of our expansion strategy," said ATP Polymer spokesman Frando Lew.
The company produces LSZH, XLPE, TPU, TPEs, etc compounds, and focuses its business in four areas -telecommunications, automobile, industrial electronics, and rail traffic.
The new plant is mainly producing high-performance LSZH compounds, it will be able to offer services to Asian countries and global markets.
Last year its revenue from the Chinese market reached US$40 million and the figure is expected to double in the company's next fiscal year.
ATP Polymer's key clients include Leoni, TFO, Volex, STL, Fujikura, Amphenol, BMW, and Tesla, and it also supplies products to Chinese optics fiber cable manufacturers such as YOFC, HengTong, ZTT, FiberHome, and HUAWEI.