CHANGZHOU, China, Aug. 24, 2017 /PRNewswire/ -- Changzhou National Hi-Tech District signed a project investment agreement with Sumitomo Chemical on August 16, 2017.
Sumitomo Chemical, one of Japan's leading general chemicals producers and member of the Sumitomo Group, ranks second among Japanese chemicals firms and 19th in the international chemicals markets. Founded in 1991, Sumitomo Chemical's South Korean unit Dongwoo Fine-Chem is a domestic leader in the electronics materials sector and a pioneer in the development of high-purity chemicals, etching solutions, photoresists, color films and polarizers, which are necessary for the manufacturing of semiconductors and thin-film-transistor liquid-crystal displays (TFT LCDs).
With the agreement, Sumitomo Chemical and Dongwoo Fine-Chem will co-invest in the US$150 million electronics materials facility located in Changzhou Binjiang Economic Development Zone. Once construction is finished and the facility goes into production, the facility, with a registered capital of US$50 million, will provide semiconductor manufacturers across the eastern part of China with premium high-purity reagents.
A national commitment to infrastructure and a key Yangtze River Delta location make the Changzhou National Hi-Tech District the best location for 1,641 foreign companies.
SOURCE The Public Promotion Department of Changzhou Xinbei District Commission of CCP