Hatco Corp. and Celanese Chemicals on Thursday announced plans to close their German joint venture Estech GmbH, a three-year-old manufacturer of polyol esters. New Jersey-based Hatco said the business did not take off as the partners had hoped.
Hatco was doing business in Europe before and formed the joint venture hoping it would grow, Hatco Vice President of Public Relations David J. Mason said. It didnt grow as quickly as we thought, and it doesnt look likely to grow in the future.
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