Nov 21 2005
Solvay has announced that the new joint company Solvay & CPC Barium Strontium GmbH & Co. KG was created after the finalization of a definitive agreement for its launch. The new company, a joint venture between member companies of the Solvay Group and Chemical Products Corporation (CPC), will provide worldwide management of the partners’ barium carbonate and strontium carbonate technical grades, sodium sulfide, sodium hydrosulfide and strontium nitrate businesses.
“The barium and strontium business is facing the challenge of a rapidly changing technological and geographical end-use market place,” said Ray Johnson, President and Chief Executive Officer of the joint venture. “We are fortunate to have these two leading companies join forces to face this challenge, thereby enhancing our future competitiveness throughout the world.”
The new company, which is headquartered in Hanover, Germany, is held 75% by Solvay and 25% by CPC. The main production sites for the joint venture are in Germany (Bad Hoenningen), Mexico (Monterrey & Reynosa), India (Sri Kalahasti) and Korea (Onsan).
Separate from the joint venture, CPC will continue to produce barium carbonate in the USA.
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