14 January 2014 04:09 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Liaoning Oxiranchem Inc will set up a joint venture (JV) company, named Wuhan Oxiranchem Special Chemicals Co, with Wuhan Jadechem Chemicals, Oxiranchem said on late Monday.
The new 60:40 JV company between Oxiranchem and Jadechem, with a total investment of yuan (CNY) 60m ($9.9m) will build a 50,000 tonne/year ethylene oxide (EO)/ propylene oxide (PO) derivative fine chemical project at Wuhan in Hubei province, according to a statement filed on Shenzhen Stock Exchange.
The new company will focus largely in the production and sales of electroplating additives, printing and dyeing auxiliaries, as well as pesticide adjuvants, the statement said.
The JV may improve the development in the EO/PO derivative fine chemicals and new materials industry, the statement added.
($1 = CNY6.04)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections