China Petroleum and Chemical Corporation (Sinopec) and DuPont Packaging and Industrial Polymers have embarked upon a new joint venture to produce ethylene vinyl acetate resins (EVA). Sinopec will have 55% holding in the new company and DuPont will hold 45%. The plant is to be located at the existing facility of Sinopec Beijing Yanshan Company in Beijing. Scheduled to begin in late 2008, the plant will have annual production capacity of about 60,000 tons.
The new facility will help meet the fast growing demand for EVA products in China, in sectors such as packaging materials, adhesives, footwear and clothing.