MOSCOW (MRC) -- Solvay, a global market leader in high-performance materials, and Shanghai Shengjian Environment Technology Co. Ltd. have signed a strategic partnership framework agreement to strengthen their business relations and expand into new markets, said the company.
Based on over 10 years of mutual success in important segments of the semiconductors, FPD, solar power and other growth industries, the partners will intensify their collaboration across all fields of new product and new application development, market development, technical exchange and material supply.
“Shengjian has a leading position in flat panel display and semiconductor applications supported by our innovative material supply, and is seeking to boost its business growth with our technical support and high-performance product portfolio,” says Peter Browning, President of Solvay’s Specialty Polymers Global Business Unit. “By reinforcing the strong bond between our companies, this agreement will also create a win-win situation for seizing new business opportunities and strengthening our ties with strategic end-customers.”
Under the new agreement, Solvay and Shengjian will jointly promote the development and marketing of components, systems and processes in the semiconductor, flat panel display, solar power and expand other demanding industries with deeper cooperation. Solvay will utilize its existing technological capabilities and business resources to assist Shengjian in winning new customers and expanding into new market segments. Besides regular information exchange and technical meetings, both Parties will also support each other through seminars and participation in industry conferences, exhibitions etc. The agreement secures Shengjian’s strategic procurement of critical high-performance materials from Solvay, gaining bigger market share of their expanding products.
We remind, Solvay announces the expansion of its China Research & Innovation Center (R&I), with the inauguration of a new research building in the Solvay Shanghai Technology Park. The company has invested more than 4 billion RMB (approx 500M euros) in its Chinese R&I hub since 2005, to better support local customers and fulfill the booming demand for innovative and sustainable solutions in the region.