US Momentive forms phenolic joint venture with Taiwan UPC Technology

14 December 2011 17:45  [Source: ICIS news]

HOUSTON (ICIS)--Momentive Specialty Chemicals has signed a definitive agreement with Taiwan’s UPC Technology Corporation to create a phenolic resins joint venture in China, the US-based specialty chemicals firm said on Wednesday.

The announcement comes after the two firms signed an memorandum of understanding in May 2011.

Momentive said the joint venture, Momentive Union Specialty Chemicals, plans to build a phenolic resins plant at Zhenjiang, Jiangsu province, adjacent to an existing UPC chemical facility there.

Construction is expected to begin in early 2012, with completion and commissioning expected for the first quarter of 2013, Momentive said.

Capacity or financial details were not disclosed.

“We believe Momentive’s global leadership in phenolic resins technology, coupled with the regional strength and infrastructure of UPC in Greater China, will create a formidable new player in the Greater China marketplace for these versatile materials,” said Ian Harris, the joint venture’s general manager.

For more on Momentive and other producers visit ICIS company intelligence

By: Stefan Baumgarten
+1 713 525 2653

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