US Vertellus forms jv in China to expand specialties production

23 April 2013 18:11  [Source: ICIS news]

HOUSTON (ICIS)--Vertellus Specialties has formed a joint venture in China, expanding its production capacity for pyridine and picolines in that country, the US-based producer said on Tuesday.

Vertellus said that joint venture partner Weifang Green Olive Chemical (Green Olive) has a 10,000 tonne/year plant in Shandong province that may be further expanded.

The Weifang facility, which has been idle since it was built in 2011, is expected to become fully operational this summer, Vertellus said.

Vertellus will own the majority of the outstanding equity of the joint venture, and it will manage the operations of the facility and be responsible for marketing its products to customers in China’s agricultural chemicals industry.

"Vertellus is excited about the opportunity to partner with Green Olive to bring this state-of-the-art facility online to support the growth of China's agricultural chemicals industry," said CEO Rich Preziotti.

Financial terms were not disclosed.

By: Stefan Baumgarten
+1 713 525 2653

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