Mar 12 2004
Tokai Carbon and Sumitomo Corp have jointly decided to establish a local subsidiary in the Chinese city of Tianjin where they will manufacture carbon black.
This represents the first time a Japanese company has set up carbon black operations in China.
The subsidiary will be called Tokai Carbon (Tianjin) Company Ltd, of which Tokai Carbon will own 80% and Sumitomo will own the remaining 20%. The plant is scheduled for completion in the Spring of 2006 and will have a production capacity of 40,000 tons per year. It has also been designed to be able to expand to 100,000 tons per year production if required.
The investors have decided to build a plant in China as the consumption of carbon black in China is growing at over 10%, largely due to the expansion of the automotive industry.
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