Minority stake
By Pan Xiaoyi |
May 18, 2010, Tuesday
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Print Edition
Print Edition
DUPONT Co intends to take a minority stake in a domestic chemical firm to enhance its global competitiveness in fluorine chemical, the company said yesterday.
The United States chemical maker did not disclose the investment and the stake it planned to take in Changshu 3F Zhonghao New Chemical Materials Co, which is controlled by Shanghai-listed Shanghai 3F New Material Co. The deal is pending approval from Chinese authorities.
"Zhonghao's world-class fluorochemical manufacturing capabilities will strengthen our ability to better serve our customers worldwide," said Gary Spitzer, president of DuPont Chemicals and Fluoroproducts. "It also will enable a faster response to rapidly growing regional markets for our broad portfolio of fluorochemicals across all applications. This applies for existing and future chemistries for refrigerants or for our specialty fluorochemicals markets."
The United States chemical maker did not disclose the investment and the stake it planned to take in Changshu 3F Zhonghao New Chemical Materials Co, which is controlled by Shanghai-listed Shanghai 3F New Material Co. The deal is pending approval from Chinese authorities.
"Zhonghao's world-class fluorochemical manufacturing capabilities will strengthen our ability to better serve our customers worldwide," said Gary Spitzer, president of DuPont Chemicals and Fluoroproducts. "It also will enable a faster response to rapidly growing regional markets for our broad portfolio of fluorochemicals across all applications. This applies for existing and future chemistries for refrigerants or for our specialty fluorochemicals markets."
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