Engelhard and Ukraine Government form specialty minerals joint venture.ISELIN, N.J.--(BUSINESS WIRE)--July 2, 1996--Engelhard Corporation (NYSE NYSE See: New York Stock Exchange :EC) today announced the formation of a 50/50 joint venture with the Prosyanoe Mining and Enrichment Combine of Ukraine. The venture, Dnipro Kaolin kaolin (kā`əlĭn): see china clay. , is Ukraine's first major venture for the manufacture and marketing of specialty mineral products. Dnipro Kaolin couples Engelhard's expertise in kaolin- based pigment technology and marketing with Ukraine's high- quality kaolin deposits and manufacturing facilities. The joint venture will not have a significant impact on Engelhard's equity earnings, but will provide the company with a base to better serve the growth of kaolin products in the European market. With headquarters and operations in Prosyanoe, in southeastern Ukraine, the new company will supply high- quality, kaolin-based pigments to customers throughout Europe. The venture's first products will be pigments for the paper and paperboard industries with pigments and additives for other industries to be added later. "This historic partnership represents the most recent milestone in our tradition of supplying value to the customers and industries we serve," said Barry W. Perry, vice president and general manager of Engelhard's Pigments and Additives Group. "We have always serviced customers in Europe and Asia with the highest quality products and support, but can now offer them better delivery logistics. Currently, Engelhard exports paper pigments to Europe from its Middle Georgia Middle Georgia refers to the metropolitan area surrounding the city of Macon, in Bibb County in the U.S. state of Georgia. Similar, and possibly coextensive, named regions include Central Georgia and the Heart of Georgia. operations through the Port of Savannah The Port of Savannah is a major United States of America seaport, located in Savannah, Georgia, just up the Savannah River from the Atlantic Ocean and is operated by the Georgia Ports Authority. . Sales from the new joint venture will be incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. to those from Engelhard's Middle Georgia operations. "We value very highly the initiative Engelhard is taking to invest in technical modifications which will serve to revitalize the Ukrainian processed kaolin industry," said A.I. Zolotarev, chairman of the Ukrainian Building Materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . Corporation, the government agency responsible for kaolin mining and production in Ukraine. "We are convinced that our joint efforts will enhance the prestige of Ukrainian kaolin and strengthen the bonds of mutually beneficial Adj. 1. mutually beneficial - mutually dependent interdependent, mutualist dependent - relying on or requiring a person or thing for support, supply, or what is needed; "dependent children"; "dependent on moisture" cooperation between Ukraine and the USA." The company's first initiative will be to upgrade an existing manufacturing facility -- using Engelhard's statistical process and quality control methods -- to produce hydrous hydrous containing water. grades of kaolin-based pigments meeting international paper industry standards. Initially, the operations will be ramped up to produce up to 100,000 tons. It then plans to modify an existing calciner to produce calcined pigments and additives for a broadening set of applications. The company will employ approximately 200 people. Kaolin is a type of clay found in a limited number of deposits around the world, including the southeastern U.S. and Ukraine. Engelhard is one of the world's leading producers of high quality kaolin-based pigments and additives used to improve the performance and economics of paper, coatings, plastics, rubber, ink, and construction products. Engelhard Corporation 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: Mark Dresner (908) 205-6282 |
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