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GE Plastics and PetroChina to form a JV in China

BEIJING – GE Plastics and PetroChina announced on June 3 that they would cooperate in creating a polycarbonate resin manufacturing joint venture in China.
Under the joint venture agreement, PetroChina will supply the feedstocks and they will both contribute to a phosgene-free, melt technology-based polycarbonate plant that will be built to serve the growing local demand for polycarbonate resin.
“Serving the growing Chinese demand for polycarbonate is a key strategic priority for GE.  By combining our polycarbonate manufacturing technology with PetroChina’s leadership and local expertise we expect to bring service and high-technology materials right to our Chinese customers’ doorsteps,” said Brian Gladden, GE vice president and general manager of Lexan Resin and Global Product Companies.
“PetroChina’s strengths are the exploration, production, refining and marketing of our chemicals and natural gas businesses. By partnering with GE Plastics we create a natural extension of these strengths and generate new value for our shareholders,” added Chen Geng, chairman of PetroChina.
A public relations representative of GE Plastics declined to reveal the plant location, capacity, start-up date and JV equity split of the parties in a telephone interview with CBU/CAR.
GE Plastics is a global supplier of plastic resins widely used in automotive, healthcare, consumer electronics, transportation, performance packaging, building & construction, telecommunications, and optical media applications.

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