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)
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