08/25/2010

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DuPont and Chenguang Chemical Research Institute to form Chinese fluoroelastomer JV

The joint venture, which will include a new state-of-the-art precompounding plant to be constructed in Shanghai, is expected to be operational in the second half of 2011 - pending completion of definitive agreements and securing appropriate government approvals. Financial terms were not disclosed."This investment will enhance DuPont's ability to meet rapidly growing fluoroelastomer demand and to bring industry-leading products and technology-based solutions to customers in China and globally," said Diane Gulyas, president - DuPont Performance Polymers. "This joint venture combines DuPont's leading fluoroelastomer technology, global reach and strong DuPont Viton brand with Chenguang's integrated manufacturing position and strong China presence to yield new capabilities to serve customers.""Developing sustainable and industry leading solutions through partnership with global reach companies is a key strategy of ChemChina," said Xiao Sen Fan, VP of ChemChina. "Chenguang has established a leading position in the China fluoroelastomer market and this joint venture will bring new experience, higher value and better service to the global chemical industry. It will further strengthen our capabilities and technology and will set up a successful model for future cooperation between DuPont and ChemChina."

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