Ferro, a provider of technology-based performance materials, has inked a joint venture contract with Baotou Jin Meng Rare Earth, a China-based rare earth materials refiner.
China-based Ferro Jinmeng Polishing Materials will be concentrating on the manufacturing and marketing of polishing materials based on cerium oxide. LCD and cover glasses of electronic devices like tablet computers and smart phones are polished using these highly engineered, ultra fine materials. The major ownership interest will be held by Ferro in this business.
Baotou Jin Meng Rare Earth will offer access to high-quality rare earth materials from Baotou’s refining operations. The surface technologies business of Ferro will bring the manufacturing technology, application and marketing knowledge to the new business. Registration of this business will be done in China. Ferro will manufacture in Suzhou office park, wherein the company has modern manufacturing units. The company is expecting to commence the manufacturing process during the second half of 2012.
According to Jeffrey Edel, Ferro Electronic Materials’ Global Business Director, the surface technologies business has strongly grown to be a worldwide provider in the glass polishing market sector. Ferro in collaboration with Baotou Jin Meng Rare Earth is expecting to speed up the growth by supplying pioneering products to the Chinese market.
Global Business Manager of Ferro Electronic Materials, Jai Subramanian stated that the company’s JV business will combine local sourcing of raw material, local production and support for applications to bring a big success for this market, when there is demand for the products that integrate specialty cover and LCD glasses.
Mr. Sun Xiping, Baotou Jin Meng Rare Earth’s President commented that the company is delighted to collaborate with an international technology leader in the market’s glass polishing section.
Source: http://www.ferro.com/