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[February 2006]
SGL Carbon Signs JV Agreement in China
SGL Carbon AG (Wiesbaden, Germany) has recently signed a joint venture agreement with the Chinese company Sinyuan Industrial Material Co Ltd, which is located in Ningbo south of Shanghai.
The agreement covers the manufacture of expanded graphite products for the Asian market. Ownership shares of the joint venture, called SSG Ningbo Co Ltd, are held 60% by SGL Carbon and 40% by Sinyuan.
SGL Carbon said that it brought its longstanding production and management experience to the joint venture. The goal in China is to now expand SGL's position as a leading manufacturer of expanded graphite, with plants in the USA and Europe, to Asia as well. The products are used, in particular, in the rapidly growing Asian automotive industry, the electronics industry, the chemical industry, as well as in power engineering and refineries.
Sinyuan is one of China's leading manufacturers of graphite materials for the sealing industry. This company brings into the joint venture its production facilities, which have been in operation since 2000, as well as its customer relationships.
www.sglcarbon.de
ENDS