Increasing presence in overseas market and expanding source of revenue
HONG KONG, May 4, 2012 /PRNewswire-Asia/ — China Lumena New Materials Corp. (“Lumena New Materials” or the “Company”, together with its subsidiaries collectively known as “the Group”, HKEx Stock Code: 67), the world’s largest PPS resin producer* and one of the largest thenardite producers**, is pleased to announce that the Company signed a framework agreement with Dutch DSM Engineering Plastics on March 29, 2012 in Chengdu, the PRC in the marketing and sales of Stanyl® polyamide46 and Haton® PPS.
Pursuant to the framework agreement, the two companies agreed to further explore potential cooperation in the marketing and sales of Stanyl® polyamide 46 in China and Haton® PPS outside of China. Furthermore, the companies will investigate the potential for a joint development in respect of PPS/PA46 alloys as well as other areas of cooperation.
Mr. Zhang Zhigang, Chairman and Executive Director said, “The Framework Agreement demonstrated DSM Engineering Plastics’ recognition and support on the Group’s product quality and distribution capabilities in PPS. We believe that the cooperation will help to increase our presence in overseas market, attract larger consumer groups and expand our source of revenue. Looking ahead, we will capitalize on this golden opportunity to further develop our PPS business as well as new products, and vertically integrate our production capacity to strengthen our competitiveness in the world.”
Dutch Royal DSM, listed on NYSE Euronext, is a global science-based company active in health, nutrition and materials. By connecting its unique competences in Life Sciences and Materials Sciences, DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, pharmaceuticals, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials. DSM’s 22,000 employees deliver annual net sales of around euro9 billion.
About China Lumena New Materials Corp.
As a leading new materials and chemical enterprise in China, Lumena New Materials is the world’s largest PPS resin producer* and one of the world’s leading thenardite producers**. PPS is a special engineering thermoplastic widely used in electrical and electronic, automotive, rail transportation, environmental protection and emissions reduction, aeronautics and astronautics, and coatings applications, etc. It has been listed as one of the new materials to be developed and supported by the China’s government in its 12th Five-Year Plan. The Company manufactures, develops and sells PPS resin, PPS compounds and PPS fibre. Equipped with the world’s largest single line production facility, the Company produces numbers of high quality thenardite products such as powder thenardite, specialty thenardite and medical thenardite. It operates four captive underground glauberite mines and is the only approved and certified producer of medical thernadite in China.
* In terms of production capacity as of 31 December, 2010, according to SRI Consulting, a research service firm
** In terms of production capacity as of 31 December 2010, according to Behre Dolbear Company (USA) Inc., an independent market research consultant
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Porda Havas International Finance Communications Group
Article source: http://en.prnasia.com/pr/2012/05/04/120202312.shtml