# Kemira forms NewCo joint venture with Shandong Tiancheng Wanfeng for AKD wax

Kemira has formed NewCo, a joint venture in which it holds 80 percent, with Shandong Tiancheng Wanfeng Chemical Technology in Yanzhou, China, valued at EUR 55 million. NewCo will produce AKD wax and polyaluminum chloride, with production starting in the second half of 2019.

- Type: Acquisition
- Announced: 2018-12-03
- Where: Yanzhou, Shandong, China
- Value: $62.7M (55.0M EUR)
- Status: announced
- Products: AKD wax, alkyl ketene dimer sizing chemicals, polyaluminum chloride
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Kemira Oyj](https://endata.com/companies/16014.md) (investor)
- [Shandong Tiancheng Wanfeng Chemical Technology](https://endata.com/companies/27244.md) (partner)

## Sources

- [pulpandpapercanada.com](https://www.pulpandpapercanada.com/kemira-forms-joint-venture-called-newco-for-paper-sizing-chemicals-1100001460/), 2018-12-03: "Kemira owns 80 per cent at a valued investment of EUR 55 million."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.