CHINA: NEW TOURISM COMPANY TO BE SET UP

Article Abstract:

CYTS Wing On is a new company to be jointly set up by China CYTS Tours of China and Amanda Wing On Travel (Holdings) of Hong Kong. Travel services of the new company that will have its stakes to be equally split between the 2 initiators will be extended to Southeast Asia tours, from its initial tours from China to Macau and Hong Kong. The 2 partners have entered into a partnership deal for the setting up of the new company that calls for HK$ 5 mn of investment. At later stage, the new company may also mark its presence in the e-commerce arena.

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CHINA: CELANESE IN ACETIC ACID JOINT VENTURE

Article Abstract:

Shanghai Wujing Chemical Corp (SWCC) and Celanese AG are to set up a joint venture in China for the production of acetic acid. The new company will take over an existing acetic acid production plant from SWCC, while the German partner will provide capital and technology for expanding the capacity of the facility from 100,000 tpy to 250,000 tpy.

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GERMANY: CELANESE TO CLOSE ACETIC ACID PLANT

Article Abstract:

By the end of year 2000 Celanese of Germany is to close its production facilities for acetic acid, acetic anhydride and acetaldehyde in Knapsack, Germany. The company will serve the European market from its plants in Clear Lake, Texas, and Singapore (acetic acid) and from Pampa, Texas, and Cangrejera, Mexico (acetic anhydride).

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