DuPont performance coatings expands in China
Through the agreements, DuPont has increased its stake in an existing joint venture and has entered into a second joint venture, both named "DuPont Red Lion," with the objective of modernizing coatings production to support the Chinese automotive industry with locally manufactured and technically serviced products. At both sites, production will be supported by laboratories and application.
"In China, about 1.2 million cars and about 1.5 million commercial vehicles are produced annually," said John Lewis, vice president - DuPont Performance Coatings - Asia Growth Initiatives. "As one of the fastest growing automotive markets in the world, China will play an increasingly important role in our future business plans. Almost all international automotive manufacturers are planning major investments to increase production in China, which already has exhibited stable, double-digit annual growth rates. A major share of this growth will be generated by the Chinese operations of our current global customers such as Volkswagen, Ford Motor, General Motors, Citroen, Toyota and Nissan that are seeking reliable local production of high-quality paint systems. These two plants will form the basis for serving our customers and achieving optimum penetration of the Chinese market."
Most read news
Topics
Organizations
Other news from the department business & finance
Get the chemical industry in your inbox
From now on, don't miss a thing: Our newsletter for the chemical industry, analytics, lab technology and process engineering brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.