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Hercules expands presence in China.

HERCULES EXPANDS PRESENCE IN CHINA. Hercules Inc., Wilmington, DE, has reached an agreement to acquire the remaining 40% ownership interest of its consolidated joint venture, Shanghai Hercules Chemicals Company Ltd. from its partner, Shanghai Chlor-Alkali Chemical Co. Ltd (China). Hercules has assumed day-to-day operations. Completion of the acquisition is subject to normal clearance from the appropriate Chinese government and regulatory agencies. Terms of the transaction were not disclosed.

"Hercules intends to actively consider an expansion of Shanghai Hercules' existing manufacturing capacity and product line as well as installation of new facilities to support technical applications, product development and training for the paper chemicals markets in Asia," stated Paul Raymond, president, Hercules Paper Technologies and Ventures.

In addition, following the recent announcement to sell a 51% interest in FiberVisions, Hercules has streamlined its remaining businesses into two groups: Aqualon and Paper Technologies and Ventures. The Pulp and Paper Division of Hercules has been renamed Hercules Paper Technologies.
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Title Annotation:INDUSTRY NEWS
Publication:Solutions - for People, Processes and Paper
Date:Jun 1, 2006
Words:156
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