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Zotefoams plc announces Joint Venture Agreement With Inoac Corporation

Friday, 12 Jul 2013 04:35am EDT 

Zotefoams plc announced that it has entered into a joint venture with Inoac Corporation of Japan for the manufacture and exclusive sale of its Azote polyolefin products in Asia and Australasia. Zotefoams and Inoac, effective from July 1, 2013, have established a 50/50 owned sales joint venture company in Hong Kong (S-JV). The S-JV will be managed by Zotefoams' existing Asian polyolefin sales team. Initially, the S-JV will sell Products manufactured at Zotefoams' Croydon site in the UK and shipped direct to the S-JV's customers in the Territory. In parallel, the Parties will invest in a new manufacturing facility in South Korea to supply the S-JV with Products. This facility, based adjacent to an existing Inoac manufacturing site, will be similar to Zotefoams' factory in Kentucky, USA. 

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