International. Clariant announced the signing of a joint venture agreement with Tiangang Auxiliary Co., Ltd., a private producer and supplier of UV Light Stabilizers in China.
The multi-million Swiss franc investment from Clariant and Tiangang's Performance Additives business "will establish a world-class production facility in China to meet the growing local demand for process and light stabilizing additives in various growing industries such as textiles or automotive," according to Clariant.
"The partnership with Tiangang is another successful step towards strengthening Clariant's position in China," said Christian Kohlpaintner, a member of Clariant's executive committee based in China: "It provides us with a greater local presence to better position our innovative solutions in the growing Asia region, especially in China. In addition, by cooperating with a major Chinese company like Tiangang, we can exchange best practices and valuable market perspectives to offer increasingly tailored solutions to our customers."
To support growing customer demand in China, Clariant and Tiangang said they will jointly manufacture the process and light stabilizers and plan to install a new production site in the coastal and port area of Cangzhou in Hebei province. Production is scheduled to go live in the first half of 2019, according to Clariant. The JV also plans to expand its solution offering for the automotive industry in the future, Clariant said.
