DuPont: Plans to Form Chinese Fluoroelastomer Joint Venture
DuPont and Chenguang Chemical Research Institute, a subsidiary of China National Chemical Corporation (ChemChina), have signed a letter of intent to form a 50/50 joint venture for the production and marketing of fluoroelastomer gums and pre-compounds in China. The joint venture, which will include a new state of the art precompounding plant to be constructed in Shanghai, is expected to be operational in the second half of 2011 pending completion of definitive agreements and securing appropriate government approvals. Financial terms were not disclosed.
According to DuPont, this investment will enhance the company’s ability to meet rapidly growing fluoroelastomer demand and to bring industry-leading products and technology-based solutions to customers in China and globally.
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