09 October 2000 00:00 [Source: ICB]
GE Silicones and Shin-Etsu Chemical have signed a memorandum of understanding to establish a joint venture company producing silane-monomers and siloxanes.
The two companies are expected to select a site for a production plant in Southeast Asia by the end of this year. Following that, construction is expected to start in the second half of next year with start-up scheduled for April 2003. Investment costs were not revealed.
The new joint venture will be owned 50% by Shin-Etsu and 50% by GE Plastics, together with GE's silicones operation in the Pacific.
The new venture will help meet an anticipated rapid growth in demand for silicone products in Asia.
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