INEOS Fluor and Zhejiang XingTeng form Joint Venture to produce HF in China
INEOS Fluor Limited and Zhejiang Xing Teng Chemical Company Limited today announced the formation of a joint venture – Jiangxi In-Tech Chemical Company Limited. The JV has been established to produce high purity Anhydrous Hydrogen Fluoride (AHF) and will be based in Shangrao, Jiangxi Province, China. The new facility is expected to be operational by the end of this year.
This is INEOS’ first joint venture in China and will supply a stable source of raw material to its fluorochemicals plant in Mihara-city Japan. The new facility will also supply Zhejiang Xing Teng Chemical Company with raw materials for its fluorochemicals business.
“The formation of this Joint Venture company is an important development for INEOS,” said David Price, CEO, INEOS Fluor. “The new company combines the strengths and capabilities of both INEOS Fluor and Xing Teng in terms of technology, management and expertise in fluorochemicals. I am convinced that this new facility will be a great success and provide further opportunities for both companies as we grow our businesses to meet the needs of our customers.”
The JV is well located adjacent to the highway network and close to high quality acid grade fluorspar. It also has the full support of the local authorities.
“Xing Teng set itself the target to be a world class company from the very beginning of its establishment and this joint venture is an important step forward”, said Mr. Shen Rongliang, Chairman of Zhejiang Xing Teng Chemical Company. “This new plant will provide an important manufacturing base for both companies and a solid foundation for any future development down the fluorochemical chain. Meanwhile, the JV will also play an important in promoting the fluorochemical industry’s development in the region.”
For further information contact:
Richard Longden – INEOS Fluor. Tel: +44 1928 513064
Hiroshi Ikuma – INEOS Fluor Japan. Tel: +813 54628685
Ms. Tao Yi Nonie – INEOS Management (Shanghai) Company Limited. Tel: +86 21 61035922.
Mr. Chan Khai Leong – INEOS Singapore Tel +656513 2350.
Mr. Hou Xiaobo – Zhejiang Xing Teng Chemical Company. Tel +86 579 266 0238
Note to editors:
INEOS is a leading global manufacturer of refined products and basic, intermediate and speciality chemicals. The Company is made up of multiple decentralised businesses, each with a major chemicals company heritage.
The INEOS production network spans 68 manufacturing facilities in Europe, North America, South America, Asia and Africa. The combined INEOS Group generates more than $33bn in revenues and has more than 15,000 employees. This makes INEOS the third largest independent chemicals company in the world and the largest in the UK, as well as the country's largest private company.
INEOS Fluor, is a world leading specialities business built on expertise and innovation in fluorine chemistry. The company is focused on the supply of fluorine-based products, technology and services across a number of major industries from pharmaceuticals to automotive, speciality polymers to refrigeration and air-conditioning. It has manufacturing facilities at Runcorn in the UK, Mihara-city, Hiroshima-prefecture, in Japan and St Gabriel in the United States. The company employs around 400 people world-wide.
Zhejiang Xing Teng Chemical Co. Ltd is a manufacturer of fluorochemical products, fluoropolymer materials and fine fluorochemicals. Its production facilities are run strictly in compliance with ISO9001 Quality Control System and ISO14001 Environment Control System. Located in the Zhejiang-Jinxi development area of Jinhua, close to Fluorspar supplies, the company is a significant employer in the region.