Oriental Yuhong and Celanese Sign Strategic Cooperation Agreement to Promote Sustainable Development of Waterproofing Technologies
–Oriental Yuhong and Celanese share information and practices in the use of emulsions for waterproofing applications.
–The agreement aims to further expand cooperation in product research and development.
NEW YORK, NY / ACCESSWIRE / November 10, 2019 / Oriental Yuhong and Celanese are committed to a collaborative agreement to advance the sustainable development of the waterproofing and emulsions industry with chemistry solution that outperform competing technologies.
Recently, Beijing Oriental Yuhong Waterproof Technology Co., Ltd., (sz002271) and Celanese Corporation announced today they have signed a comprehensive strategic cooperation and development agreement. The agreement aims to further expand cooperation in product research and development, the development of emerging markets, and the advancement of industry safety and environmental protection practices and sustainability.
Key components of the strategic cooperation agreement include the sharing of information and practices in the use of emulsions for waterproofing applications. Additionally, the companies will begin the sharing of product development information and engage in discussions around plant productivity and sustainability in order to drive cost savings and identify potential opportunities for improving production and operational sustainability. Finally, the companies are expected to evaluate potential new supply arrangements in the region.
"Celanese and Oriental Yuhong have been working together commercially for more than a decade in the area of emulsions and vinyl acetate chemistry and this strategic cooperation agreement is the next logical step in our business relationship," said Florian Kohl, Celanese Vice President, VAM and Emulsions. "Celanese and Oriental Yuhong are committed to a collaborative agreement to advance the sustainable development of the waterproofing and emulsions industry with chemistry solution that outperform competing technologies."
"Oriental Yuhong has been working with Celanese for more than 10 years. Through our collaboration, both companies have achieved remarkable results in research and development and continuous business development," said Xiang Jinming, Vice Chairman and Executive President, Beijing Oriental Yuhong Waterproof Technology. "This agreement marks the joint effort of the two companies in providing fast-rising technologies in the construction and coatings business and expanding into emerging markets. It also provides a gateway for promoting more eco-friendly solutions in the future. This agreement will fulfil our mission to create a more sustainable and safe environment and customers will, therefore, enjoy high-quality construction products and services
About Oriental Yuhong
Founded in 1995, Oriental Yuhong has been dedicated to providing high-quality and improved system solutions for the construction of thousands of important infrastructure projects, industrial, civil and commercial buildings. It has grown into a leading service provider in the building material industry. Oriental Yuhong always pursues high quality and stable development. It focuses on waterproofing services, and extends its business to upstream and downstream sectors as well as relevant industry chains. The company has formed strong building material service capabilities integrating building waterproofing, civil building materials, non-woven fabric, building coating, building repair, energy-saving and thermal insulation, special mortar, and etc.
Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our businesses use the full breadth of Celanese's global chemistry, technology and commercial expertise to create value for our customers, employees, shareholders and the corporation. As we partner with our customers to solve their most critical business needs, we strive to make a positive impact on our communities and the world through The Celanese Foundation. Based in Dallas, Celanese employs approximately 7,700 employees worldwide and had 2018 net sales of $7.2 billion.