INDIANAPOLIS, April 23, 2013 /PRNewswire/ -- Vertellus Specialties Inc., the world's largest producer of pyridine, picolines and pyridine derivatives, has entered into a joint venture with Weifang Green Olive Chemical Co., Ltd. (Green Olive). The joint venture, named Vertellus Specialty Chemicals (Weifang) Co., Ltd., will significantly expand Vertellus capacity of pyridine and picolines in China.
Vertellus will own the majority of the outstanding equity of the joint venture and will leverage its industry-leading technology to begin production of pyridine and picolines at Green Olive's facility in Weifang, China. The Weifang facility has a name plate annual capacity of 10,000 metric tons of pyridine and picolines with the opportunity for further expansion. Vertellus expects the facility to be fully operational during the summer of 2013.
"Vertellus is excited about the opportunity to partner with Green Olive to bring this state-of-the-art facility online to support the growth of China's agricultural chemicals industry," says Rich Preziotti, CEO of Vertellus Specialties Inc. "The Weifang facility in the Shandong Province has been idle since it was built in 2011. We're pleased to be able to utilize this existing structure to enhance our ability to serve the agricultural chemicals industry within China."
Vertellus will manage the operations of the facility and be responsible for marketing the products manufactured by this joint venture.
The company maintains other facilities in China, the U.K., Belgium and India. Vertellus also has six U.S. locations including its headquarters in Indianapolis.
About Vertellus: Vertellus is a specialty chemicals company focused on the manufacture of ingredients used in pharmaceuticals, personal care, nutrition, agriculture, and a host of other market areas affected by trends favoring "green" technologies and chemistries. Vertellus is the #1 global producer of pyridine and picolines, specialty pyridine derivatives, DEET, castor oil derivatives and systems, and citrate polymer additives and systems, and a world leader in Vitamin B-3. Vertellus benefits from a technically advanced global manufacturing base and has approximately 800 employees. Vertellus is headquartered in Indianapolis, Indiana.
SOURCE Vertellus Specialties Inc.