Jinan Acetate Chemical Co., Ltd. Signs the Tripartite Memorandum of Cooperation
October 14, 2021 at 11:43 pm EDT
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Jinan Acetate Chemical Co., Ltd. signed the tripartite memorandum of cooperation. Counterparty to the contract or commitment: China Tobacco Shandong Industrial Co., Ltd. and Egypt Oriental Tobacco Company. Starting and ending dates (or rescission date) of the contract or commitment: 2021/03/05 to 2022/03/05. Major content (not applicable where rescinded): Cooperate to expand the heated cigarette market in Egypt and surrounding areas. Restrictive covenants (not applicable where rescinded): Must comply with the local laws and regulations of the three parties. Effect on company finances and business: Contribute to future business exchanges between the three parties. It will not influence the Company's financial and business. Concrete purpose/objective: Cooperate to expand the heated cigarette market in Egypt and surrounding areas.
Jinan Acetate Chemical Co., LTD. is an acetate tow manufacturer. The Company and its subsidiaries are principally engaged in research and development, manufacturing and sale of acetate tow. The Company's main product is cellulose acetate tow, which is applied in filters, reverse osmosis films, hollow fibers, acetate fibers for textile, and other fileds.