23 April 2013 18:11 [Source: ICIS news]
HOUSTON (ICIS)--Vertellus Specialties has formed a joint venture in ?xml:namespace>
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
"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
Financial terms were not disclosed.
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