26 October 2012 08:25 [Source: ICIS news]
SINGAPORE (ICIS)--Specialty chemicas firm Clariant and Singapore-listed agribusiness group Wilmar International are setting up a 50:50 joint venture to be headquartered in Singapore for the global production and sales of amines and selected amines derivatives, the companies announced on Friday.
Financial details of the plan were not disclosed.
“Subject to receipt of regulatory approvals, including merger clearances, the joint venture is expected to be operational in spring of 2013,” the companies said in a joint statement.
“This collaboration combines Wilmar’s integrated agribusiness model and our large presence in basic and downstream oleochemicals with Clariant’s technical expertise and established market presence in amines,” said Wilmar chairman and CEO Kuok Khoon Hong in the statement.
Amines are used in the production of polyamides, paints, coatings and adhesives, among others.
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