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Allnex Signs JV with Eternal Materials for Amino Crosslinker Resins

Will manufacture, supply Allnex’s CYMEL and Eternal’s ETERMINO amino crosslinker resins in Greater China

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Allnex and Eternal Materials Co., Ltd. signed a joint venture agreement with a view to manufacture and supply Allnex’s CYMEL and Eternal’s ETERMINO amino crosslinker resins in Greater China. The joint venture, which requires merger control clearance, will invest in a new manufacturing facility in China. Local production of Allnex’s CYMEL amino crosslinker resins is expected by the end of 2015.
 
The joint venture will allow Allnex to increase its presence in Greater China and to meet its ambitious growth targets. In order to support the increased sales in the region a new manufacturing facility will be built by the JV in Zhuhai, China.
 
“Since Allnex became an independent company in 2013, a focus of our strategy has been to further globalize our business,” said Allnex CEO Frank Aranzana. “Supported by Advent International, our shareholder, we have been looking from the start for opportunities to grow our presence in the emerging regions and we are proud to announce today our Joint Venture with Eternal. We firmly believe that the joint venture will help us to better service our customers in Greater China. ”

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