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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.

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