HONG KONG (Aug. 16, 2010)—Prosperity Investment Holdings Ltd. of Hong Kong is investing $3.5 million in privately owned toluene diisocyanate producer Yantai Juli Isocyanic Ester Co. Ltd.
Prosperity Investment acquired an unspecified interest in China Juli Fine Chemical Co. Ltd, whose only business is Yantai Juli Isocyanic Ester. Yantai Juli currently has a 20,000 metric ton TDI plant in Yantai, China, which it is expanding to 70,000 tons.
While Prosperity Investment's main focus used to be securities investment, the company said it has shifted to direct investment to enhance return for shareholders.
Yantai Juli is one of the few producers of TDI in mainland China, according to Prosperity Investment. TDI is a key chemical for the polyurethane industry, used to make flexible foam, high-grade paints and adhesives, high elasticity polyurethane, and more