Changzhou National Hi-Tech District (www.czxx.org.cn) announced the signing of a project investment agreement with Sumitomo Chemical Corp. (Tokyo, Japan; www.sumitomo-chem.co.jp).
With the agreement, Sumitomo Chemical and the company’s Korean unit, Dongwoo Fine-Chem, will co-invest in a $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 $50 million, will provide semiconductor manufacturers across the eastern part of China with premium high-purity reagents.
Founded in 1991, 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).