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Europe: Oerlikon, Chinese company enter JV on polycondensation production

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Oerlikon’s Manmade Fibers Segment has signed a joint venture (JV) agreement with Chinese company Huitong Chemical Engineering Technique pertaining to polycondensation plants.

The JV will enable the Segment to offer customers a complete solution and an entirely integrated process – from the monomer all the way through to the textured yarn and the production of bottle-grade polymers.

The JV, in which Oerlikon will hold 60% of the equity, allows the Segment to accelerate the development of its polycondensation plant businesses in China and on a global scale.

Huitong will provide technologies and engineering solutions to customers in the polyester, hydrogen peroxide and nylon businesses.

The two companies will serve the manmade fibers market and adjacent polycondensation markets for the production of packaging bottles or films.

Oerlikon Barmag, a brand of Manmade Fibers Segment, and Huitong have been cooperating since 2007 and have realized several international projects together.