Hercules announces joint venture in China.WILMINGTON, Del.--(BUSINESS WIRE)--Aug. 15, 1995--Hercules Inc. (NYSE NYSESee: New York Stock Exchange :HPC (Handheld PC) A palmtop computer that weighs less than one pound and runs specialized versions of popular applications. Microsoft coined the term for its Windows CE operating system, which is an abbreviated version of Windows. See Pocket PC. ) Tuesday announced the signing of an agreement with Shanghai Chlor-Alkali Chemical Co., Ltd., to establish a joint venture in China. The new entity, Shanghai Hercules Chemicals Co., will manufacture high-performance paper chemicals and market these products to the papermaking pa·per·mak·ing n. The process or craft of making paper. pa  per·mak industry in China. Hercules will have a 60-percent equity position and support the venture with technology from its numerous worldwide locations. Hercules also will initially provide key management personnel from its regional organization. The new manufacturing facilities, scheduled for startup in 1997, will be located in Shanghai adjacent to the existing Shanghai Chlor-Alkali 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. Thomas L. Gossage, Hercules chairman, president, and chief executive officer: "We view this move into China as both an exciting opportunity for growth in one of our franchise businesses and the first of what we hope will be several planned moves in this developing area of the world." Xu Rongyi, chairman of Shanghai Chlor-Alkali Chemical, stated: "The advanced technology and large potential market of these products are the focus of our business development efforts. The signing of this joint-venture agreement for manufacturing paper chemicals is an important step in our plans." Shanghai Chlor-Alkali Chemical is the largest manufacturer of caustic soda caustic soda: see sodium hydroxide. caustic soda Sodium hydroxide (NaOH), an inorganic compound. The alkalies called caustic soda and caustic potash (potassium hydroxide) are very important industrial chemicals, with uses in the manufacture of and PVC PVC: see polyvinyl chloride. PVC in full polyvinyl chloride Synthetic resin, an organic polymer made by treating vinyl chloride monomers with a peroxide. and one of the largest chemical companies in China and is among the top 50 Chinese enterprises. Hercules manufactures chemical specialty products for a variety of markets worldwide. Its businesses include Paper Technology, Resins, Fibers, Food Gums, Aqualon, and Electronics & Printing. Hercules is the leading supplier of sizing and wet-strength chemicals for the papermaking industry. With shareholder value as its guiding focus, the corporation concentrates on value-added, high-performance products where it has a market or technology advantage. Hercules employs 8,200 people and operates 46 manufacturing plants around the world. CONTACT: Hercules Inc., Wilmington Media Contact: Amy Binder binder: see combine. An earlier Microsoft Office workbook file that let users combine related documents from different Office applications. The documents could be viewed, saved, opened, e-mailed and printed as a group. , 302/594-6905 Investor Contact: Jim Rapp, 302/594-5254 |
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