logo
  

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
When Can We Expect Starlink to Go Public? This question got an answer from Tesla and SpaceX CEO Elon Musk, who said he will only publicly list SpaceX's satellite internet service Starlink when its revenue is more predictable. Musk was responding to a users tweet, "Any thoughts on Starlink IPO we would love to invest in the future. Any thoughts on first dibs for Tesla retail investors?" John David McAfee, who founded the antivirus software company McAfee Associates, has been found dead in a prison cell in Spain shortly after a Spanish court agreed to extradite him to the US to face tax evasion charges, multiple reports said. He was arrested in Spain in October 2020 after being accused of failing to file tax returns for four years. While reporting financial results for the first quarter of fiscal 2022 on Thursday, drugstore chain Rite Aid Corp. (RAD) initiated its adjusted loss and total revenue guidance for the full-year 2022, below analysts' estimates. For fiscal 2022, the company now projects an adjusted loss in a range...
Follow RTT