WILMINGTON, Del. and BEIJING, Jan. 28, 2015 /PRNewswire/ -- DuPont Fluoropolymer Solutions (DuPont) and Zhonghao Chenguang Chemical Research Institute Company Limited (Chenguang), a subsidiary of China National Chemical Corporation (ChemChina), announced today a key action to serve China's rapidly expanding fluoroelastomer market through world-class science and technology, targeted capacity expansions and sustainable solutions for high-performance applications.
The companies have formed a 50/50 joint venture for the production and marketing of fluoroelastomer gums and pre-compounds in China, which will expand supply of fluoroelastomers in China.
Fluoroelastomers offer important and unique characteristics that enable them to play a critically important role in many applications. These include designing more efficient and reliable automobiles, building longer lasting chemical process equipment, generating clean and renewable energy options and developing high-performance aircraft.
The DuPont-Chenguang strategic alliance will serve the fast-growing fluoroelastomer markets by bringing together the complementary expertise of DuPont and Chenguang. The alliance will enable investments in launching new products, improving technology and optimizing capacity, with a focus on reliable supply of high-quality fluoroelastomers for markets and customers.
Both DuPont and ChemChina have strategic positions in the fluoroelastomers industry and are evaluating additional potential areas for strategic collaboration.
The fluoroelastomers joint venture will be named DuPont Haohua Chenguang Fluoromaterials (Shanghai) Co., Ltd. and will sell fluoroelastomers under the Chenguang and Viton® brands. The joint venture will leverage the DuPont technology leadership and the Chenguang integrated technology and manufacturing footprint, and will provide customers with high-quality products. The joint venture also will make investments to build a new pre-compound manufacturing facility in Shanghai.
"This joint venture is ideally positioned to support China's growing market for fluoroelastomers, particularly for high-performance applications in China's expanding automotive, aerospace, energy, electronics and telecommunications markets," said Thierry F.J. Vanlancker, president, DuPont Chemicals & Fluoroproducts. "We are excited to pursue this strategic alliance with Chenguang, with whom we can more effectively deliver superior value to customers."
"This strategic alliance will combine the complementary strengths of Chenguang and DuPont, and also add strategic investments in new capacity," said Robert Lu, vice president, China National Chemical Corporation. "This also will create a new entity that can more effectively serve customers in China and globally through new technologies and specialty fluoroelastomers."
Zhonghao Chenguang Research Institute of Chemical Industry Co., LTD was founded in 1965. The company is a leading enterprise in China that specializes in researching, developing and manufacturing organic fluorine materials. The products of the company cover more than 20 categories with over 200 varieties and almost 1,000 specifications, which can be widely applied to the fields of space, aviation, automobile, electronics, petroleum, chemical industry and textile etc. Chenguang is striving to create an internationally-known chemical enterprise featuring persistent creation of economic and social values, resource conservation, environmental sustainability and inherent safety. For additional information about Chenguang and its innovation concept, please visit http://www.chenguang.cn.
DuPont (NYSE:DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit http://www.dupont.com.
# # #
1/28/15
The DuPont Oval Logo, DuPont™ and Viton® are trademarks or registered trademarks of DuPont or its affiliates.
Chenguang® is registered trademarks of Chenguang.