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Allnex and Eternal Materials Co Ltd have signed a Joint Venture (JV) agreement with a view to manufacture and supply Allnex’s Cymel and Eternal’s Etermino amino crosslinker resins in Greater China.
The JV will invest in a new manufacturing facility in China. Local production of Allnex’s Cymel amino crosslinker resins is expected by the end of 2015.
While Allnex’s amino crosslinker resins already enjoy a leading position in most regions of the world, the JV will allow Allnex to increase its presence in Greater China and to meet its ambitious growth targets. In order to support the increased sales in the region a new manufacturing facility will be built in Zhuhai, China.
"Since Allnex became an independent company in 2013, a focus of our strategy has been to further globalise our business,” stated CEO of Allnex, Frank Aranzana.
The JV is subject to required merger control clearance.