27 March 2012 09:06 [Source: ICIS news]
SINGAPORE (ICIS)--Clariant has inaugurated its new joint venture pigments facility at Dagang in China, the Switzerland-based specialty chemicals maker said on Tuesday.
The plant, which involved an investment of yuan (CNY) 120m ($19m), is a joint venture between Clariant and Tianjin Bohai Chemical Industry, the company said in a statement.
The new facility came on stream at the end of 2011 and produces pigment preparations in liquid and solid form for applications in the coating, plastics and printing industries, and for consumer products and industrial special applications, it said.
“Investing in emerging markets is a key element of Clariant’s strategy and underlines our focus on extending its value proposition to growing markets,” said Christian Kohlpaintner, a member of Clariant’s executive committee.
The company has an existing powder pigment plant at Hangzhou in China.
Clariant has invested Swiss franc (Swfr) 200m ($222m) in China during the past five years.
The capacities of its pigments facilities in China are not immediately available.
($1 = CNY6.31, $1 = Swfr0.9)
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