MANILA, Philippines – Filipino firm Chemrez Technologies Inc. is investing P368.722 million for the establishment of facility for the production of oleochemical specialities and derivatives for the export market.

The project has been approved by the Board of Investments with incentives.

Oleochemical specialties and derivatives, which are biodegradable petrochemical-alternative materials for personal care, industrial use and agricultural use, are non-traditional export products of the country.

The company will export at least fifty percent (50%) of its production particularly to the USA, Middle East, Australia and various Asian countries.

In 2006, the company branched out from powder coating to move into the production of biodiesel and other oleochemicals, resins and other specialty chemicals.

As part of its branding strategy for its business diversification, the Company also assumed a new corporate name, Chemrez Technologies, Inc.

The firm is now venturing into the production of oleochemical specialties and derivatives.

These may be generally described as biodegradable petrochemical-alternative materials for personal care such as but not limited to glycerol esters), for industrial use such as but not limited to super amides, ampoteric surfactants, industrial solvents, etc. and agricultural use.