Velsicol strikes Asian joint venture

7 September 2006

Velsicol Chemical Corporation and WuhanYouji Industries Co. Ltd. are forming a joint venture to produce and market benzoate esters and polymeric plasticizers in Wuhan in the Hubei Province of China. The company says that this facility makes Velsicol the first global producer of benzoate esters and polymeric plasticizers. Velsicol is the majority partner in the joint venture with Wuhan Youji, which is backward integrated into key raw materials. The facility is ISO 9001 certified and has good research and development facilities, says Velsicol.

Dennis Leu, Velsicol's executive vice-president of Business Development, will be the acting general manager for the joint venture until a permanent appointment is made by the end of the year. John Kenny, vice-president for Velsicol's plastic additives business, says the joint venture expands on the established relationship between the two companies and sets a platform for future cooperation.