Rhine Chemical Launching Project in Qingdao.

Rhine Chemical (Qingdao) Co., Ltd., a joint venture between Rhine Chemical of Germany and Qingdao Hongxing Chemical Industrial Group, is recently open to business. Bayer Group is the parent company of Rhine Chemical and holds 90% stakes in the joint venture company.

The production site of the company occupies an area of 30 000 [m.sup.2] and owns 4 production lines. The project has a total investment of 22 million U.S. dollars, and produces processing auxiliaries, parting agents and mold discharging agents with a capacity of over 11 000 t/a. More than 30% of the products are for export. The annual output value can reach over 25 million U.S. dollars. Hongxing Chemical Industrial Group which owns 6 rubber processing enterprises provides raw materials for the joint venture company.