WILMINGTON, Del., (Aug. 18, 2010)—DuPont and a subsidiary of China National Chemical Corp. have agreed to form a 50/50 joint venture to make and market fluoroelastomer gums and pre-compounds in China.
The joint venture between the U.S. firm and Chenguang Chemical Research Institute will include a precompounding plant to be built in Shanghai. The facility is expected to go on line in the second half of 2011 pending completion of definitive agreements and securing appropriate government approvals, DuPont said. The company didn't release financial details of the deal.
The investment will enhance DuPont's ability to meet rapidly growing fluoroelastomer demand to customers in China and globally, said Diane H. Gulyas, president of DuPont Performance Polymers. It will combine DuPont's fluoroelastomer technology, global reach and Viton brand with Chenguang's integrated manufacturing position and strong China presence to yield new capabilities to serve customers, she said,'
Xiao Sen. Fan, vice president of China National Chemical, said his company has a leading position in China's fluoroelastomer market, and the partnership will bring higher value and better service to the global chemical industry.
He said the joint venture will set up a model for future collaboration between the two companies.