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GE Toshiba Silicones has entered into an agreement to develop a new silicones manufacturing plant in Nantong, Jiangsu province, China. The company — a joint venture between Wilton, Conn.-based General Electric Co.’s (GE’s) Advanced Materials business and Japan-based Toshiba — will invest US$78 million to build the new plant. GE Toshiba Silicones says the facility, scheduled to begin production by the end of 2007, will enable it to provide silicone technologies to companies in China faster and more easily through a shortened supply chain.

“GE Toshiba Silicones has always envisaged China as one of the most important markets in the world,” said Eddy Wu, president and CEO, GE Toshiba Silicones. “We are committed to introducing the latest silicone technologies to China based on profiles of local demands, aiming to convert [research and development] results in advanced technologies into cutting-edge products that meet the requirements of our customers.”

“The rich resources in world-class technologies and profound understanding of the market of GE Toshiba Silicones will combine well with Nantong’s geographic advantage as an industrial center in the [Yangtze River Delta] to provide a major driver to regional economic development,” added Chen De Xin, director, Nantong Economic & Technology Development Zone.