Velsicol forms joint venture in China.Velsicol Chemical Corporation Velsicol Chemical Corporation is a chemical company founded in 1931 that specializes in plasticizers. It has approximately 450 employees and is owned by the private equity firm Arsenal Capital. , Rosemont, IL, has formed a joint venture with Wuhan Youji Industries Co. Ltd. to produce and sell benzoate benzoate /ben·zo·ate/ (ben´zo-at) a salt of benzoic acid. ben·zo·ate n. A salt or ester of benzoic acid. benzoate a salt of benzoic acid. esters esters (esˑ·terz), n.pl organic compounds synthesized from acids and alcohols, typically possessing fruity aromas. and polymeric plasticizers plasticizers mostly triaryl phosphates, such as tricresyl, triphenyl phosphates, which are poisonous. See also triorthocresyl phosphate. in the Asian market and other areas. The venture, which will have a production facility in Wuhan, Hubei Province of China, reportedly makes Velsicol the first global producer of benzoate esters and polymeric plasticizers in the world. The company currently has production facilities in the U.S. and Europe. Velsicol is the majority partner in the joint venture. |
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