DuPont Performance Polymers has inked definitive agreements with China National Chemical (ChemChina)’s subsidiary, Chenguang Chemical Research Institute, to create a 50/50 joint venture for manufacturing and commercializing fluoroelastomer gums and precompounds in the Chinese region.
The announcement was made at the Beijing office of ChemChina. The joint venture is slated for operation in the first half of fiscal 2013 and is subject to appropriate government approvals. A sophisticated precompounding facility to be built in Shanghai will also be included in the new joint venture. Construction on the new precompounding facility is also scheduled during that period.
China Haohua Chemical Group’s President, Hu Dongcheng stated that this new joint venture agreement is a testament for the successful collaboration between ChemChina and DuPont. It will positively impact the company’s technology base and global market reach while laying the cornerstone for future collaboration between the two companies.
DuPont Performance Polymers’ President, Diane H. Gulyas stated that this new joint venture combines Chenguang’s integrated production capability and wide presence in the Chinese region with DuPont’s industry-proven fluoroelastomer technology, strong DuPont Viton brand, and worldwide presence to acquire new capabilities for providing better service to customers. This investment will improve the company’s capability to fulfill the ever-increasing demand for fluoroelastomer and offer technology-based solutions and industry-leading products to customers in China and worldwide. This joint venture deal reiterates the company’s commitment towards the automotive industry and offers robust regional assets to fulfill growing customer demands.
Source: http://www2.dupont.com