By Patrick Raleigh, ERJ On-line news editor
Middlebury, Connecticut-Crompton Corp. is still seeking to sell Nanjing Crompton Shuguang Organosilicon Specialties Co. Ltd (NCSOS)-its majority-owned Chinese organosilanes manufacturing joint venture-to General Electric Co. The planned deal is linked to the sale of the group's OSi business to GE in July last year.
The Chinese firm, â€œshould eventually transfer to GE,â€ according to a Crompton spokeswoman. However, â€œthere are some issues keeping this from happening,â€ she added in a telephone interview. Crompton established the JV with Nanjing Shuguang General Chemical Co. (NSGCC) in mid-2002.
GE was to have acquired NCSOS shortly after its $1005-million acquisition of Crompton's OSi business on 31 July 2003. At that time, Crompton said it expected to receive an extra $12 million from the transfer of certain OSi assets overseas to GE.
NCSOS, which operates from a facility at Crompton's site in Nanjing, supplies organosilanes for used in coatings, adhesives, sealants, fibreglass, rubber, and electronics applications. Crompton's JV partner NSGCC claims to be China's largest silanes producer.