China’s Henghe group investing €120m in elastomers, additives plant

Nanjing, China – Chinese chemicals major Zhejiang Henghe Industrial Group has signed an agreement to invest more than Yuan1 billion (€122 million) in a “high-end” elastomer materials and additives project in Nanjing, eastern China.

In a 28 Jan statement, the city’s local general affairs department said the project will be developed by Henghe (Nanjing) Material Technology and will focus on the R&D and production of advanced elastomer materials and related additives.

The company will be leveraging its “upgraded high-performance tire petroleum resin technologies” to produce the elastomers, which it said described as high value-added, technically complex and with lower environmental impact.

The materials are targeted for applications in the automotive, medical and aerospace sectors, the statement said.

Founded in 2003, Zhejiang Henghe operates across chemicals, property and investment, with its chemical business centred on ‘proprietary process technologies.’

Its Nanjing subsidiary, established in 2008, produces isoprene, piperylene, dicyclopentadiene and C5 petroleum resins, supplying international customers including Inovyn, Polimeri Europa and ExxonMobil.