Germany's Degussa group and China's Jilin University have signed an agreement creating a joint venture to develop and manufacture polyetherketone (PEEK) and polyethersulphone (PES) engineering polymers. The pre contract signed between the two in December 2004 gets formalized with this agreement. Jilin University will be the technology provider for the manufacture of these high temperature polymers under the name of 'JIDA Degussa'. Degussa will hold 80% stake in the company and Jilin University will hold the balance 20%.
Production from the JV will be targeted toward the booming markets for automotive engineering, electronics and aerospace in China. With this joint venture, Degussa will strengthen its presence in a Chinese high tech market growing at more than 10%.
09-Jun-05 
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