Plus   Neg

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
Fast-food giant McDonald's said it will be raising hourly wages for more than 36,500 hardworking employees at McDonald's-owned restaurants by an average of 10 percent to make it among the industry-leading pay and benefits package. These increases, which have already begun, will be rolled out over the next several months. Biogen Inc. (BIIB) Friday said its XIRIUS study of cotoretigene toliparvovec failed to meet its primary endpoint in Phase 2/3 in patients with X-linked retinitis pigmentosa or XLRP. The company further noted that the study obtained positive trends in other pre-specified clinically relevant endpoints,... General Mills Inc. (GIS) agreed to buy Tyson Foods' (TSN) pet treats business for $1.2 billion in cash, the companies said in a statement on Friday. The transaction includes the Nudges, Top Chews and True Chews brands. General Mills will also acquire a manufacturing facility in Independence, Iowa.
Follow RTT