Zhejiang Juhua, Partners Will Set Up JV to Bring Electronic Chemicals to Chinese Market(Yicai Global) Dec. 20 -- Zhejiang Juhua Co. [SHA:600160] will partner with China Integrated Circuit Industry Investment Fund Co. and other investors to set up a joint venture to provide electronic chemical products to China's emerging IC industry.
They will establish the JV with CNY1 billion (USD152 million) of registered capital. The Quzhou-based firm will put in CNY390 million. Zhejiang Juhua and the fund will be the JV's largest shareholders, the traditional chemical giant said yesterday.
The proposed JV will industrialize, research and develop electronic chemical material industry projects and integrate valuable domestic and foreign electronic chemical materials enterprises through investment or acquisitions, Zhejiang Juhua said.
Zhejiang Juhua said it will transfer its electronic chemical material business through open market transactions to avoid horizontal competition.
