GE Expands its Silicones Business in China.Business Editors SHENZHEN Shenzhen (shĕn`jŭn`), city (1994 est. pop. 695,600), S Guangdong prov., China, on the South China Sea, N of Hong Kong. Designated a special economic zone in 1979, the city's spectacular economic growth led China to create over a dozen more , China--(BUSINESS WIRE)--Oct. 23, 2002 - GE Toshiba Silicones and Shenzhen Guanghua Enterprises Development Celebrate New Silicone silicone, polymer in which atoms of silicon and oxygen alternate in a chain; various organic radicals, such as the methyl group, CH3, are bound to the silicon atoms. Elastomer elastomer (ĭlăs`təmər), substance having to some extent the elastic properties of natural rubber. The term is sometimes used technically to distinguish synthetic rubbers and rubberlike plastics from natural rubber. Joint Venture in Shenzhen - GE Toshiba Silicones, one of the world's major silicone manufacturers and a Pacific base of GE Silicones, together with Shenzhen Guanghua Enterprises Development Company Ltd. of China, announced today that they have entered into a new joint venture in Shenzhen, Guangdong Province Noun 1. Guangdong province - a province in southern China Guangdong, Kwangtung , China. The new joint venture company is called Shenzhen GETOS Fine Silicones and will manufacture and sell silicone elastomer products. The new company held a grand opening ceremony today at its manufacturing site in Shenzhen, China. Shenzhen GETOS Fine Silicones is owned 51% by GE Toshiba Silicones, and 49% by Shenzhen Guanghua Enterprises Development Company, a subsidiary group company of Shenzhen Investment Holding Corporation. It was established and began operations in September 2002. The total investment amount is US$6 million. In forming Shenzhen GETOS Fine Silicones, Shenzhen Guanghua Enterprises Development's silicone elastomer business was transferred to the new company. It manufactures and sells a wide range of high quality silicone elastomer products to serve customers in more than 20 provinces in mainland China and Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. in industries such as building and construction, electrical/electronics, automotive, appliance A stand-alone hardware device or software environment dedicated to a specific task. See hardware appliance and software appliance. , and healthcare. "By combining the technological and management strengths of GE Toshiba Silicones and Shenzhen Guanghua Enterprises Development, we are building a dynamic, new company that will provide more value-added products and services to our local customers," said Akihiko Kumagai, president and chief executive officer of GE Toshiba Silicones. "This investment also marks GE's first manufacturing base in Shenzhen. China represents a large growth opportunity for us. We are excited about the chance to expand our business in the region and also feel very fortunate to have a great company like Shenzhen Guangua Enterprises Development as our partner." Pang Datong, President of Shenzhen Investment Holding Corporation added, "We are excited about this new joint venture. GE Toshiba Silicones has a long successful history and significant experience in Japan and around the world. With their global and financial strength, the new company further enhances Shenzhen's operations to better serve our customers." Silicone is a man-made material in which organic and inorganic inorganic /in·or·gan·ic/ (in?or-gan´ik) 1. having no organs. 2. not of organic origin. in·or·gan·ic n. 1. substances are chemically combined. Silicones have uniquely superior heat resistance, cold resistance, water repellence re·pel·lent also re·pel·lant adj. 1. a. Serving or tending to repel. b. Able to repel. 2. Inspiring aversion or distaste; repulsive. See Synonyms at hateful, offensive. 3. , and electrical characteristics. They are available in many forms - oils, gums, resins resins, n.pl complex, insoluble, sticky substances secreted by plants. Used as astringents, antimicrobials, and antiinflammatories, and are burned as incense. Can cause oral ulcers and epidermal irritations. , and fine particles Fine particles are an air pollutant mainly produced by cars running on diesel. Other sources are the combustion of fossil fuels in power plants and various industrial processes. - and can flexibly meet the demands of various market. Founded in 1971 and headquartered in Tokyo, GE Toshiba Silicones manufactures and sells a wide range of silicones products for industrial and consumer markets. A joint venture of General Electric (GE) and Toshiba, it currently operates in 12 Asian countries Noun 1. Asian country - any one of the nations occupying the Asian continent Asian nation country, land, state - the territory occupied by a nation; "he returned to the land of his birth"; "he visited several European countries" with over 700 employees. Among the markets served are construction, electrical/electronics, personal care and household products, automotive and healthcare equipment. The company also serves as the Pacific base of GE Silicones and provides its products and services to customers not only in Asia Pacific but also globally. To accelerate its service in the China market, GE Toshiba Silicones Shanghai Shanghai (shăng`hī`, shäng`hī`), city (1994 est. pop. 12,980,000), in, but independent of, Jiangsu prov., E China, on the Huangpu (Whangpoo) River where it flows into the Chang (Yangtze) estuary. plant started full-scale production in July 2001. GE Toshiba Silicones' website address is http://www.getos.co.jp. Shenzhen Guanghua Enterprises Development Company Ltd. was founded in 2000 as a subsidiary of Shenzhen Investment Holding Corporation. Shenzhen Investment Holding mainly engages in the investment and operation of industrial - projects within China.
The New Joint Venture Profile
Company name: Shenzhen GETOS Fine Silicones Co., Ltd.
Headquarters: Shenzhen Petrochemical Ban Tian Hi-Tech Industrial
Zone, Ban Tian, Long Gang District, Shenzhen,
Guandong Province, People's Republic of China
Representatives: Jimmy Bai, Chairman
Frank Li, General Manager
Foundation: September 10, 2002
Shareholders: GE Toshiba Silicones (51%)
Shenzhen Guanghua Enterprises Development (49%)
Number of
employees: Approximately 150
Business
operations: Manufacturing, processing, marketing and sale of
silicone elastomers, and related technological and
new product development.
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