on august 17, the chenguang chemical research institute, a subsidiary of the china national chemical corporation (chemchina), and dupont 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.
both sides will jointly set up a new, state-of-the-art precompounding plant in shanghai, which is expected to be fully operational in the second half of 2011.
"developing sustainable and industry-leading solutions through partnership with global companies is a key strategy of chemchina," said fan xiaosen, vice-president of chemchina. "chenguang has established a leading position in the china fluoroelastomer market, and this joint venture will bring new experience, higher value and better service to the global chemical industry. it will further strengthen our capabilities and technology and will set up a successful model for future collaboration between dupont and chemchina."
the joint venture will combine dupont's cutting-edge fluoroelastomer technology, global reach and strong dupont viton brand with chenguang's comfortable manufacturing position and strong presence in china to yield new capabilities for serving customers.
"this investment will enhance dupont's ability to meet the rapidly growing demand for fluoroelastomers, and to bring industry-leading products and technology-based solutions to customers in china and all over this vast planet," said diane h. gulyas, president of dupont performance polymers.
pictured above are xie xueduan, executive vice-president of the chengguang research institute of chemical industries, and randy stone, managing director of asia pacific at dupont performance elastomers, signing the letter of intent.
