The Shandong group is China’s biggest bromine producer.
The Bromine group, owned by the Israel Chemicals concern, has signed an agreement with Chinese company Shareholding Shandong Haihua, for the set-up of a plant to produce and market bromine compounds in China. The two companies will invest $30 million in the project, in equal shares, and will have equal holdings.
The Bromine group exports most of its output, consisting of crude bromine and sophisticated bromine compounds, mainly to Europe and the United States. In the past year, on examining potential markets world-wide, the company’s owners reached the conclusion that the Far East is the biggest potential market. They accordingly resolved to take steps to establish a joint venture in China.
The choice of Shandong Haihua was based on its being part of Chinese chemicals industry leader, the Ocean Chemical Group Shandong.
Published by Israel's Business Arena February 14, 1999