Dow Chemical Co., Ltd. and Binhua Group Co., Ltd. recently announced that both parties have signed a memorandum on the joint venture to produce perchloroethylene, and the joint venture will own 50% of each of Dow and Binhua.
It is reported that the two parties will build a world-scale plant of tetrachloroethylene in Binzhou, Shandong Province, China. The initial goal is to produce 40,000 tons of tetrachloroethylene per year and have the capacity to increase annual production to 80,000 tons. If all goes well, the plant is expected to start production in 2014.
Carol Williams, president of Dow Chemicals and Energy, said that Dow's joint venture with Binhua is another important milestone in achieving the company's strategic goals. It not only meets the strategic goals of the two companies, but also helps. Dow expands its manufacturing business in China.
Shi Bojun, president of Dow Chemical Greater China, pointed out that the cooperation with Binhua will help improve Dow's influence in China and meet the increasing customer demand in the regional market.
According to reports, non-ozone depleting fluorocarbon refrigerants are suitable for industrial, automotive and household applications. Global demand for hydrochlorofluorocarbon (HCFC) refrigerants is increasing. The market for perchloroethylene in China is also growing rapidly, but the local supply so far has been very limited. The planned Dow-Branch joint venture project aims to capture this crucial market opportunity.
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