Clariant, Tiangang To Open New Production Facility In China For Process And Light Stabilizers

Specialty chemicals company Clariant AG (CLZNY.PK,CRN.L,CLZNF.PK) Monday announced the opening of a new joint venture production facility in China for high-end process and light stabilizers.

The facility is jointly owned by Clariant and Beijing Tiangang Auxiliary Co., Ltd, a privately owned producer and supplier of light stabilizers in China.

The facility is located within the Cangzhou National Coastal-Port Economy & Technology Development Zone in Cangzhou.

Clariant and Tiangang established their joint venture in September 2017.

The new facility forms the centerpiece of the partnership between Clariant and Tiangang to meet the growing demand in China for high-end process and light stabilizers from local growth industries like automotive, textiles and coatings.

Clariant said these expansions, along with other components of its China strategy, will enable it to grow China sales beyond the current level of 402 million Swiss francs in 2020, which represents approximately 10% of the company's continuing operations sales.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
PepsiCo, Inc. (PEP) has reached an agreement with private equity firm PAI Partners to sell Tropicana, Naked and other select juice brands across North America. The agreement also includes an irrevocable option to sell certain juice businesses in Europe. The combined pre-tax cash proceeds will be approximately... Drug major Eli Lilly And Co. reported Tuesday weak profit in its second quarter, despite higher revenues driven by strong volume across core business and most major geographies. Further, the company trimmed its forecast for fiscal 2021 earnings on a reported basis and margin, while maintained adjusted earnings view above market estimates. The company also tightened full-year revenue forecast. Shares of BMW Group were losing around 5 percent in German trading after the luxury automaker warned Tuesday that its second half-year is likely to be more volatile, affected by supply bottlenecks, high prices for raw materials and a shortage of semiconductors. This was despite reporting strong second-quarter results driven by solid demand.
Follow RTT