Chi Mei and Grand Pacific to integrate six ABS subsidiaries in China

Taiwanese petrochemicals companies Chi Mei Group and Grand Pacific Petrochemical have signed a memorandum of understanding (MoU) to integrate six of their ABS subsidiaries into a joint venture in mainland China. Each company would contribute three of its subsidiaries. The proposed JV, to be named Zhenjiang Chi Mei Chemical will have capacity to produce 700,000 tons annually.