Two leading players in China's materials industry, both with production bases in the U.S., Jushi Group Co. Ltd. and Kingfa Sci. & Tech. Co. Ltd. are looking to join forces to serve the global thermoplastic market.
The two companies held a signing ceremony at Kingfa's headquarters in Guangzhou June 14 to announce their technical alliance, Jushi said in a statement.
Kingfa said it looks forward to high-end new products from Jushi, such as high modulus glass fiber, low-warpage glass fiber, and anisotropic glass fiber.
The two companies plan to work together to innovate and better meet customized needs from clients in the thermoplastic industry, Kingfa added.
The companies pledged to leverage their resources — including their global manufacturing sites — and forge strategic alliances to develop new products and new markets.
Kingfa is China's largest plastics compounder with overseas production facilities in the U.S., Germany, and India. Jushi is the world's largest fiberglass manufacturer with one overseas manufacturing site in Egypt and another one under construction in the U.S.