DuPont Packaging & Industrial Polymers (P&IP) and Sinopec today formed a joint venture to produce Ethylene Vinyl Acetate resins (EVA) in China. The location for the plant will be at the existing facility of Sinopec Beijing Yanshan Company in Beijing. Startup of EVA production is planned for late 2008.
The joint venture combines the technological and manufacturing expertise of the partners and will supply competitively a broad range of specialized high-quality EVA products. The new facility will help meet the fast growing demand for EVA products in China. The offerings will serve market segments such as packaging, adhesives, printing, wire and cable, footwear, and apparel.
This joint venture is 55 percent owned by Sinopec and 45 percent owned by DuPont, with an annual production capacity of about 60 kilotonnes. The combination of the manufacturing expertise of Sinopec and the latest EVA technology from DuPont P&IP will open up new business opportunities to serve different market segments in China. The new facility will enhance the existing manufacturing capability of Sinopec and capture the rapid emerging market demand.
“This joint venture marks an important milestone for the DuPont Company in the continuing globalization of its ethylene copolymers business,” said B.C. Chong, vice president of DuPont Packaging & Industrial Polymers. “It will be the first Elvax® facility of DuPont P&IP in China, in partnership with Sinopec. It will help strengthen the position of DuPont in the world’s fastest growing EVA market and support its customers as they grow and expand to specialty products for high-value applications.”
Sinopec is an integrated energy and chemical company that is engaged in oil and gas exploration and production, and the production and distribution of oil and chemical products. Sinopec is the largest petroleum products (including gasoline, diesel oil, jet kerosene etc.) producer and distributor and main petrochemical products (including intermediate petrochemical product, synthetic resin, synthetic fiber monomer and polymer, synthetic fiber, synthetic rubber and fertilizer) producer and distributor in China, it is also the second largest crude oil producer in China. Sinopec Beijing Yanshan Company is an extra large petrochemical complex directly under Sinopec, which can produce 99 kinds and 449 grades of petrochemical products. Its output of synthetic resin, synthetic rubber, phenol and acetone takes the first place in China.
DuPont started its business in China in the mid-1980s. Today, DuPont China has 35 wholly owned and joint venture manufacturing facilities, and about 5,500 employees in the country. Its products and services covered diversified markets in the chemical, agricultural, food and nutrition, electronics, textile and automotive industries. As of now, the total investment in China has exceeded $700 million. The company announced in May 2005 to double its China investment to $1.2 billion by 2010.
DuPont is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.
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