PPG Industries (PPG: Quote) announced that it has signed a memorandum of understanding with Henan Billions Chemicals Co., Ltd., by which PPG will license certain chloride-based technologies to Henan Billions for use at Henan Billions' titanium dioxide or TiO2 refinement facilities in China.
In addition, PPG has signed a long-term purchase agreement for titanium dioxide with Henan Billions. Commercial terms of the agreements and license proceeds from Henan Billions to PPG were not disclosed.
PPG said it intends to use the chloride-based TiO2 manufactured by Billions for various end-use applications, including paints and other coatings. The TiO2 also would be available for sale to third parties.
PPG previously manufactured titanium dioxide using the chloride process at its chemicals facility in Natrium, W.Va., and sold titanium dioxide pigment for coatings and other end-use applications. Titanium dioxide is a raw material widely used in the paint and coatings industry as a pigment to provide hiding, durability and whiteness characteristics.
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by RTT Staff Writer
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