Yantai, Shandong – Wanhua Chemical Group announced in early January, that it is planning to establish a new sales company in the Special Economic Zone in Yantai, where Whanhua is building its new headquarters and global research and development centre.
The new company, Wanhua Chemical (Yantai) Sales Co., Ltd will have RMB 22m ($3.6m) registered capital. It will be an integrated domestic sales platform for MDI (methylene diphenyl diisocyanate), TPU (thermoplastic polyurethane), MDA (methylene dioxyamphetamine), HDI (hexamethylene diisocyanate), IPDA (isophorone diamine), waterborne PU and petrochemicals.
According to the announcement, the new company’s business will cover sales of PU and additives, isocyanates and derivatives, general machinery equipment, hardware, minerals, chemical products and building materials. The announcement adds that the new firm will be involved in technical consulting as well as import and export of commodities and technology.