22 Sep 2011
ERJ staff report (DS)
Mexico City, Mexico / Nanjing, China-- A Mexican-Chinese joint venture company is to build a nitrile rubber factory in Nanjing, China with annual capacity for 30.000 tonnes in the first phase.
Grupo Kuo, S.A.B. de C.V. is to form a 50/50 joint venture with the Chinese company Jiangsu GPRO Group Co. Ltd. (GPRO). The new company, named INSA GPRO (Nanjing) Synthetic Rubber Co. Ltd. will invest US $60 million in a new plant located in Nanjing, Jiangsu Province, China. Technology wil be provided by Industrias Negromex, S.A. de C.V. (INSA), a wholly-owned subsidiary of Kuo.
The Nanjing plant will create 100 direct jobs and is expected to begin operations by the beginning of 2014. Construction will begin after approval by Chinese authorities.
“Grupo Kuo brings to this venture its differentiated and innovative technology, which allows it to produce high end and sophisticated NBR rubbers to meet the increasing demand of products with improved performance â€, said Juan Marco Gutiérrez Wanless, CEO of Grupo KUO.
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Press release from Negromex
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