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Oerlikon signs joint venture with Chinese polyester firm

14 Jul '15

2 min read

Oerlikon Manmade Fibers Segment has signed a joint venture agreement with the Chinese company Huitong Chemical Engineering Technique Co., Ltd., to strengthen Oerlikon’s position in the growing business of designing, setting-up, and servicing polycondensation plants.

It will enable Oerlikon’s Manmade Fibers 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.

Oerlikon is continuing the strategic development of its portfolio with further investments in its best-in-class businesses. The joint venture, in which Oerlikon will hold 60 per cent of the equity, leverages the engineering and service capabilities of Oerlikon’s Manmade Fibers Segment, and allows the Segment to accelerate the development of its polycondensation plant businesses in China and on a global scale.

Huitong is China’s first polyester engineering company and provides technologies and engineering solutions to customers in the polyester, hydrogen peroxide and nylon businesses. The combination of Oerlikon’s technologies, engineering and service capabilities with Huitong’s engineering and polymer technologies leads to a fully integrated engineering concept for the manmade fibres market and adjacent polycondensation markets for the production of packaging bottles or films, Oerlikon informs in a press release.

Dr. Brice Koch, CEO of the Oerlikon Group said, “As part of our strategy to reinforce our best-in-class businesses, we have been actively leveraging our core technologies and competencies and broadening their applications in adjacent markets. In line with this, our Manmade Fibers Segment has successfully entered the polycondensation market, and this joint venture is our next step in further developing our expertise and business in this market. The joint venture is a perfect fit in terms of technologies, business models and market access and opens up attractive business opportunities in the manmade fibers market and its adjacent markets such as plant engineering and polycondensation technologies.” (GK)

Fibre2Fashion News Desk - India