DSM joint venture to build world class composite resins facility in China
The new facility will substantially strengthen the local position of the joint venture in the markets for composite materials in China. DSM holds 75% of the shares in JDR whereas Sinopec Assets Management Co. Ltd. holds 25% in the joint venture.
The expansion follows on the continued strong demand for high-end resins in all the application segments in the region. The new unit is expected to come on stream early 2012.
Nico Gerardu, Member of the DSM Managing Board and responsible for the Performance Materials cluster, said: "This investment perfectly fits in our strategy DSM in motion: driving focused growth. For several years in a row demand for composite resins in China has been larger than the capacity to produce. With this large investment in local manufacturing capacity DSM is preparing itself to take our growth in China in composite resins to the next level. It will also contribute to our 2015 target of doubling DSM's sales in China compared to 2010 to over USD 3 billion."
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