Asahi Chemical, FMC to start up venture in H.K

Asian Economic News, April 5, 1999

NEW YORK, March 30 Kyodo Japan's Asahi Chemical Industry Co. and FMC Corp. of the United States will start operating a joint venture in Hong Kong from Thursday, FMC said Tuesday. The new company, Avicel Asia-Pacific Ltd., is a 50-50 partnership between Asahi Chemical and FMC's wholly-owned subsidiary FMC Hong Kong, FMC said.

FMC said the aim of the venture is to increase sales to existing customers and develop demand from potential pharmaceutical customers in the Asia-Pacific region, excluding Japan, for its microcrystalline cellulose-based excipients. Excipients are the adhesive substance used to hold ingredients together in a pill. FMC, based in Chicago, is a major producer of chemicals and machinery for industry and agriculture.

COPYRIGHT 1999 Kyodo News International, Inc.
COPYRIGHT 2000 Gale Group

 

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