Momentive Specialty Chemicals and UPC Technology have declared that subsequent to the signing of an MOU in May 2011, they have entered into a definitive Joint Venture Agreement to establish Momentive Union Specialty Chemicals to foster the production potential in China to manufacture specialty phenolic resins.
The primary production factory of Momentive Union will be built in Zhenjiang, Jiangsu, China, neighboring an existing chemical manufacturing complex of UPC Technology. A complete collection of resole phenolic resins and specialty novolac will be manufactured in the new plant that will be sold under top brand names including Durite resins and Bakelite resins. These materials are utilized in applications including electronics, refractories, abrasives and friction. Momentive has a rich legacy of more than a century of innovation in phenolic technology and product advances as one of the company’s predecessors that developed phenolic resins.
The General Manager of Momentive Union, Ian Harris said that he believes that UPC’s infrastructure and provincial strength and Momentive’s universal leadership in phenolic resins technology in Greater China, will see the rise of an intimidating new competitor in Greater China for these multipurpose materials.
The Zhenjiang project will increase the companies’ potential to address the mounting demand from customers in China with indigenous manufacturing and solutions customized to particular applications, Harris said. Construction will begin in early 2012 consequent to the completion of the permitting and engineering design work with the commissioning and completion expected during the first quarter of 2013.
Source: http://www.momentive.com