Engelhard Announces Thailand JV To Produce Auto-Emission Catalysts.ISELIN, N.J.--(BUSINESS WIRE)--February 10, 1996--Engelhard Corporation (NYSE NYSE See: New York Stock Exchange :EC) announced today that it has formed a joint venture with its Japanese affiliate, N.E. Chemcat Corporation of Tokyo, to manufacture auto-emission catalysts in Thailand for sale throughout Southeast Asia Southeast Asia, region of Asia (1990 est. pop. 442,500,000), c.1,740,000 sq mi (4,506,600 sq km), bounded roughly by the Indian subcontinent on the west, China on the north, and the Pacific Ocean on the east. . Engelhard owns 60 percent of the new company, called Engelhard Chemcat (Thailand) Ltd., and N.E. Chemcat owns the remaining 40 percent. The joint venture plans to build a manufacturing plant south of Bangkok in the Eastern Seaboard Industrial Estate at Rayong. Thailand, already a high-growth market for automobiles, is rapidly becoming the leading manufacturing center in Southeast Asia for cars and light-duty, pick-up trucks. Production in Thailand is projected to grow to 1.2 million vehicles by the year 2000 from 550,000 in 1995. Vehicle sales in Thailand tripled between 1989 and 1995 reaching 570,000, and is projected to top the one-million mark by 2000. Thailand today represents the second largest market for pick-up trucks only behind the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The auto-emission catalyst market is projected to grow at the same rate as automobile production. The equivalent of Euro I standards, first-phase auto-emission control regulations developed by the European Community European Community: see European Union. European Community (EC) Organization formed in 1967 with the merger of the European Economic Community, European Coal and Steel Community, and European Atomic Energy Community. , are already in place in Thailand, and the more stringent Euro II standards are slated for adoption later this year. Other countries in the region are expected to follow suit in time. Those countries are part of the Association of Southeast Asian Nations Association of Southeast Asian Nations (ASEAN), organization established by the Bangkok Declaration (1967), linking the nations of Indonesia, Malaysia, Philippines, Singapore, and Thailand. (ASEAN ASEAN: see Association of Southeast Asian Nations. ASEAN in full Association of Southeast Asian Nations International organization established by the governments of Indonesia, Malaysia, the Philippines, Singapore, and Thailand in ) trading alliance, which, in addition to Thailand, includes: Brunei, Indonesia, Malaysia, the Philippines, Singapore and Vietnam, with Laos, Cambodia and Mayanmar (Burma) holding "observer" status, a prelude prelude (prā`l  d), musical composition of no universal style, usually for the keyboard. It was originally used to precede a ceremony and later a second, often larger piece. to full membership. "This alliance is in keeping with Engelhard's strategy to strengthen our number one, worldwide market share position in auto-emission catalysts and systems by capitalizing on emerging Asia Pacific markets," said Ed Stanczak, vice president of Engelhard's Automotive Emission Systems business. "The new catalyst plant in Thailand will enable us to better serve the growing demand generated by our customers' expansion in the region." Engelhard owns 38.8% of N.E. Chemcat, a publicly traded Japanese corporation and a leading producer of automotive and chemical catalysts, electronic chemicals and other precious-metals-based products. Engelhard is a world-leading provider of environmental technologies, specialty chemical A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. products, engineered materials and related services. CONTACT: Engelhard Mark Dresner 908-205-6282 |
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