Top Biz News
Chemical firm plans expansion in Jiangxi
By Xiao Wan (China Daily)
Updated: 2010-01-21 07:56
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China National Chemical Corp (ChemChina), a national chemical producer, has signed an agreement with Boston, Massachusetts-based Cabot Corporation to expand their joint fumed-silica project in Jiangxi province.
According to ChemChina, the move will strengthen the firm's specialty chemical product portfolio.
The two parties agreed to expand production at the Jiangxi facility to 15,000 tons by 2011, making it the largest producer in the world. Further expansion plans are also in the works, according to a joint statement.
Fumed-silica is used as a thickening or anti-caking agent in foods. Other uses include the auto and construction industries for viscosity adjustment in paints, coatings, printing inks, adhesives and polyester resins.
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In 2006 ChemChina entered the organic silicon market via its purchase of France-based Rhodia SA through its subsidiary China National BlueStar (Group) Corp. The acquisition made BlueStar the world's second largest maker of organic silicon.
ChemChina is consolidated into six business units - advanced chemical materials, specialty chemicals, oil processing and refining products, chlor-alkali chemicals, agrochemicals, rubber products and chemical equipment.
Last year the company recorded a profit of 910 million yuan ($133.29 million), in spite of a downturn in the global chemical industry.
