Malaysian company to establish detergent JV in China
(Xinhua)
Updated: 2006-10-17 09:38
Malaysia's Golden Hope Overseas Capital (GHOC) has signed a joint-venture
agreement with two Chinese companies to establish Guangzhou Keylink Chemical Co.
Ltd. in southern China, the company said Monday.
GHOC, an investment
subsidiary wholly owned by Golden Hope Plantations Berhad, signed the agreement
with Cognis Oleochemicals (Hong Kong) Ltd. and Lonkey Industrial Co. Ltd, the
company said in a statement released here.
The new company based in
Guangdong province will manufacture, distribute and sell methyl ester
sulphonates (MES), an oleochemical derivative used in the production of
detergent.
The collaboration will further strengthen Golden Hope's
biodiesel business by capitalizing on the potential of MES as a replacement for
linear alkybenzene sulphonate in the detergent industry, said GHOC.
Under the agreement, Lonkey will hold 49 percent of equity in the joint
venture company with 36 percent under Golden Hope and the remaining 15 percent
under Cognis.
Golden Hope said, Guangzhou Keylink will be responsible
for building, developing and operating a plant to be built in Guangzhou to
manufacture MES.
The joint venture company will also be
responsible for distributing and selling the products in China and other parts
of the world, GHOC added. (For more biz stories, please visit Industry Updates)
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