Polyurethane systems formulator Hyperlast Ltd. has formed a new partnership with Shanghai Carthane Ltd. to expand the range of Hyperlast products sold in China.
Shanghai Carthane will become the distributor of the full line of Hyperlast's engineering polymers to the Chinese market, according to Paul Fitzgerald, Hyperlast's marketing manager.
The companies' longer-term objective will be to find local manufacturers to handle Hyperlast goods, Hyperlast said in a news release, but Fitzgerald cautioned that a final decision has not been made. ``It is an option that we're considering.''
The deal opens the Chinese market to a comprehensive range of Hyperlast PU goods and expands the company's base, he said. Hyperlast is based in Derbyshire, England.
Hyperlast and Shanghai Carthane have a relationship that dates back to 1995, when the Chinese company became a manufacturing licensee for Hyperlast's Autothane microcellular elastomer, used in suspension systems of mass-produced cars as well as Formula 1 racing cars, Fitzgerald said.
A unit of polymer specialist British Vita plc since 1998, Hyperlast has wanted to expand for some time in China beyond the distribution of its Autothane microcellular elastomer line, he noted. With the rapid growth of the Chinese economy, Shanghai Carthane and Hyperlast recognized the need for more PU elastomers in a number of different areas in the country, he added, and decided this was the time to make the move.
``The Chinese market is now driving demand for other products in our range,'' sales director Mark Perry said.
The pact will give the Chinese market fast access to Hyperlast's extensive range of goods along with the support and experience the Derbyshire-based form offers, he added.
``It's part of our long-term strategic plan,'' Fitzgerald said. ``Having a position in China is important. We think China has great potential and it's a great opportunity for us.''
The company, which also is building its markets in the United States, has its largest base in the United Kingdom and exports about 45 percent of its products, which include the Hyperlast, Diprane, Rotakote, Durelast, Duramould and Traffideck brands.