Ningbo, China-based petrochemical manufacturer Keyuan Petrochemicals reports entering into an agreement with the Hangzhou Zhongce Rubber Co. to jointly develop commercial applications for solution polymerization styrene butadiene rubber (SSBR).
The formal agreement was signed on June 28 and under its terms, researchers from both companies will work together on SSBR projects over the coming few years. Both firms will share the rights to products and technologies developed from this cooperation.
Keyuan Petrochemicals states that any successfully developed SSBR will be manufactured within the Styrene-Butadiene-Styrene (SBS) facility it is currently building. This Ningbo, Zhejiang Province, plant is expected to be complete at the end of 2011.
“This agreement is another example of our ongoing commitment to develop new products using our innovative technologies,” commented Chungfeng Tao, chairman and CEO of Keyuan Petrochemicals. “Hangzhou Zhongce is a proven leader in tire production with strong R&D capabilities. Sales of car tires worldwide were $140 billion in 2010, and is the largest user of SSBR today, especially for high gear radials. By engaging early in this technology, we expect to gain an advantage by developing commercial applications for SSBR in new markets and capitalising on a significant growth opportunity.”
Keyuan notes that China is currently “still in the early stage of applying SSBR into tire production” but believes that market prospects for the chemical are “promising.” (Tyres & Accessories)
