(Yicai) Aug. 28 -- Shares of Peric Special Gases rose after the Chinese manufacturer and distributor of electronic special gases and trifluoromethanesulfonic acid series products said it intends to invest CNY697 million (USD95.6 million) to build a new plant.

Peric Special Gases [SHA: 688146] jumped 3.9 percent as of today's lunch break. The stock opened 7 percent up.

The new plant will be built in the Shanghai Chemical Industry Park to serve integrated circuits, light-emitting diode, and organic LED panel customers based in eastern China, including Shanghai, the Hebei province-based company announced yesterday.

To be built in 18 months, the new facility will become a forefront production base for Peric's overseas business, the firm added, without revealing any further details.

Building the plant in Shanghai will give Peric more opportunities to cooperate with domestic and overseas scientific research bodies, equipment makers, and other potential partners while attracting more high-end talents to join the plant's research, development, and analysis center, the company noted.

Peric is capable of making 50 types of products, all of which are key raw materials for the IC, display panels, lithium-ion battery, new energy, pharmaceutical, optical fiber, and other industries.

Editor: Futura Costaglione