FMC, JICHANG CHEMICAL FORM JOINT VENTURE IN CHINA.HUZHOU CITY, China--(BUSINESS WIRE)--Jan. 26, 1996--FMC Corporation today announced the formation of a joint-venture company in China to produce and market 2-Ethyl Anthraquinone anthraquinone /an·thra·quin·one/ (an?thrah-kwin´on) 1. the 9,10 quinone derivative of anthracene, used in dye manufacture. 2. any of the derivatives of this compound, some of which are dyes. (2-EAQ), a 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. used primarily in the production of hydrogen peroxide hydrogen peroxide, chemical compound, H2O2, a colorless, syrupy liquid that is a strong oxidizing agent and, in water solution, a weak acid. It is miscible with cold water and is soluble in alcohol and ether. . FMC See fixed mobile convergence. is the controlling and managing partner in the facility in Huzhou City, Zhejiang Province, previously owned and operated by Jichang Chemical, the Chinese partner in the new company. Technology for the venture has been licensed from the Shanghai Institute of Organic Chemistry. The joint-venture company will immediately take over the two-year-old operating plant and initiate an immediate capacity expansion to at least 400 tons per year. Also planned are upgrades to manufacturing processes and a program to achieve ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 certification for the plant. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Bill Wheeler, president of FMC Asia Pacific Inc.: ``This venture provides an opportunity for FMC to acquire access to advanced 2-EAQ manufacturing technology and a high-quality product, as well as guarantee a stable source of supply. By transforming the operation to world-class operating standards, it will also provide a viable supply alternative to other worldwide hydrogen peroxide producers.'' The joint venture company will market 2-EAQ domestically in China, and will use FMC's global chemical sales force to serve markets outside of China. FMC Corporation is one of the world's leading producers of chemicals and machinery for industry, government and agriculture. The Chicago-based company reported annual sales of $4.5 billion in 1995, with international sales to more than 100 countries accounting for 49 percent of total annual revenues. FMC employs 23,000 people at 100 manufacturing facilities and mines in 21 countries. The company divides its businesses into five major segments: Performance Chemicals, Industrial Chemicals, Machinery and Equipment, Defense Systems and Precious Metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. . CONTACT: FMC Corporation Jesse Chen, 8621-6210-4799, Shanghai or Tom Kline, 215/299-6888, Philadelphia |
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