Company to cease manufacturing operations at
its Jinshan, China
manufacturing facility
THE
WOODLANDS, Texas, Feb. 21,
2024 /CNW/ -- SI Group, a leading global
developer and manufacturer of performance additives, process
solutions, pharmaceuticals and chemical intermediates, announced
today a long-term supply partnership with Liaoning Dingjide
Petrochemical Co., Ltd. (Dingjide) 603255:CHShanghai (CNY), a
Chinese-based manufacturer of additives and other specialty
chemicals. Through this partnership, Dingjide will manufacture
certain SI Group products in China
as a co-producer. As a result of the supply agreement, SI Group
will cease manufacturing operations at its Jinshan, China manufacturing facility and list the
property and associated legal entity for sale.
Under terms of the agreement, SI Group will continue to offer
these products to customers in China and will distribute and sell these
materials outside of China. SI
Group will seek to relocate its research and development facilities
currently located in Jinshan and will continue to operate its
remaining offices and manufacturing facility in China. "By partnering with Dingjide, SI
Group is able focus on establishing global performance additives
leadership through its global sales and marketing reach and
investments in innovation, while optimizing our footprint and
variablizing our cost structure," said Joey
Gullion, SVP Chief Commercial Officer at SI Group.
SI Group continues to make progress toward the vision of being
the global performance additives powerhouse and sees this
partnership as a significant step in that journey. "SI Group has a
long history of providing quality products to industries worldwide.
As part of our business strategy, we continually seek new ways to
realize quality growth in Asia
Pacific and globally," said David
Bradley, President and CEO at SI Group. "In addition to our
high-quality standards and excellent service, this local supply
point through our agreement with Dingjide reinforces our
position as a main antioxidant supplier of choice for our
customers."
Dingjide will uphold SI Group's high quality product standards
with production at its modern manufacturing facility. "We're very
pleased to enter into a long-term strategic agreement with SI
Group. By partnering with SI Group, an international leader in
additives, Dingjide will leverage its world-class quality and
production capabilities to support antioxidant growth in the global
marketplace," said Mr. Zaiming
Zhang, Chairman of Board of Directors, Liaoning Dingjide
Petrochemical.
SI Group's Jinshan, China
manufacturing facility is expected to cease manufacturing
operations on July 31, 2024. The
company will list the site for sale and seek a buyer
immediately.
About SI Group
About SI Group SI Group is a global
leader in the innovative technology of performance additives,
process solutions, active pharmaceutical ingredients, and chemical
intermediates. SI Group solutions are essential to enhancing the
quality and performance of countless industrial and consumer goods
within the plastics, rubber & adhesives, fuels &
lubricants, oilfield, and pharmaceutical industries. SI Group's
global manufacturing footprint includes 20 facilities on three
continents, serving customers in 80 countries with approximately
2,000 employees worldwide. In 2021, SI Group received a gold award
for corporate social responsibility by EcoVadis and is ranked among
the top five percent of more than 50,000 worldwide companies. SI
Group innovates and drives change to create value with a passion
for safety, chemistry, sustainability, and extraordinary results.
Learn more at www.siigroup.com.
Media Contact: Joseph Grande
ph: + 1.413.684.2463
joe@jgrandecommunications.com
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SOURCE SI Group, Inc.