Rhodia and China Rare Metals and Rare Earth Co., Ltd. Sign a Strategic Cooperation Agreement on Rare Earth Business
BEIJING - (BUSINESS WIRE) - Rhodia (member of the Solvay Group) and China Rare Metals and Rare Earth Co., Ltd. (part of Aluminum Corporation of China, CHINALCO) have signed a letter of intent to develop opportunities in the global rare earth business. According to this agreement, the two companies will develop a strategic cooperation in rare earth supply, technology and market development by leveraging both parties' competitive advantages in the value chain.
China Rare Metals and Rare Earth Co., Ltd. is the wholly-owned subsidiary of CHINALCO aiming at integrating and developing the rare earth industry in China. CHINALCO has structured its rare earth business in such a way that it has backward integration in ore in Guangdong and Guangxi Province as well as rare earth separation units located in Jiangsu Province. It also owns an R&D center at GRIREM Advanced Materials Co., Ltd. CHINALCO's ambition is to become a global leader with Chinese characteristics in the rare earth industry by leveraging its core competencies and developing high-end technologies.
Rhodia Rare Earth Systems, a global business unit of the Solvay group, is the worldwide leader in rare earth-based specialty chemicals. It supports the automotive, lighting and electronics industries in their search for sustainable solutions. With unique technologies and strong innovation capabilities, Rhodia Rare Earth Systems is the leader in providing performance materials to the automotive catalysis market. It also produces a variety of rare earth-based luminophore powders used in energy-efficient light bulbs or high-precision polishing powders for the electronics market. It operates five production plants worldwide; two are located in China where the GBU develops downstream high-end application materials.
Rhodia, member of the Solvay group, is a specialty chemical company resolutely committed to sustainable