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French Chemical Company Sets up Joint Venture in China
France's chemical company Rhodia will set up a joint venture of rare earths in China to develop high-tech products for electronic, automotive, chemical and glass markets, said Rhodia in a communique on Thursday.
Rhodia, which is one of the world leaders in specialty chemicals, will set up the Liyang Rhodia Founder Rare Earth New Material Company with Beijing Founder Group and Liyang Licheng Economic General Industrial Company in eastern Jiangsu province.
Rhodia said that it will hold 45 percent of the shares in the joint venture, which will produce products for overseas as well as domestic markets in China.
Through this venture, China is expected to become a key location for manufacturing rare earth products of Rhodia, it said.
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