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(PlastEurope) -- The processed
materials business of composites specialist Umeco has entered a joint venture
with its Chinese distributor Shanghai Leadgo Technology to establish a
facility in Shanghai to manufacture vacuum bagging films for the rapidly growing
Chinese wind energy market. Both companies are investing around RMB 28m (EUR
3.1m) in the jv.
The new facility is expected to be fully operational by the end of 2011. The
jv, Shanghai Umeco Composite, will be 51% owned by Umeco, with Leadgo having a
49% stake. Umeco currently manufactures the films supplied to Leadgo for the
Chinese market at its Industria Plastica Monregalese (IPM) facility in Mondovi /
Italy. The British company expects that the global growth in the wind energy
market will allow IPM to back-fill its production capacity once production for
the Chinese market moves to Shanghai Umeco Composite's plant.
mrcplast.com |
