Borden Chemical, Inc., a leading global producer of chemicals, adhesives and resins for industrial and wood markets, is expanding its presence in China through the formation of two separate joint venture companies that will produce formaldehyde, resins and UV-curable materials. The company also has opened a regional representative office in Shanghai to manage its growing business interests in China.
“The formation of these companies and the opening of a regional headquarters in Shanghai are clear indications of our interest in establishing a strong presence in the growing Chinese marketplace,” said President & CEO Craig O. Morrison. “We believe aligning ourselves with leading Chinese companies will enable us to most effectively serve customers in this vital market.”
In the first alliance, a subsidiary of Borden Chemical has joined with a subsidiary of Asia Dekor Holdings Limited to form a company called Asia Dekor (Hong Kong) Borden Chemical Company Limited. Asia Dekor (Hong Kong) Borden Chemical will build a formaldehyde and derivative resins manufacturing facility in Heyuan to service the growing medium-density and particleboard market in the region. The project is slated for completion and start-up by mid-year. Asia Dekor is a leading Chinese producer of premium laminate flooring and other engineered wood products.
In the second arrangement, subsidiaries of Borden Chemical and UVITech, a Chinese producer of UV-curable coatings, have formed a joint venture company called Borden UV Coatings (Shanghai) Co., Ltd., to manufacture and market UV-curable coatings and adhesives for fibre optics, digital media and other applications.
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