Degussa Inaugurates R&D Center in Shanghai

23-Apr-2004

"The new Research & Development Center marks a strategic milestone in our China commitment", Prof. Utz-Hellmuth Felcht, Management Board Chairman of Degussa AG, announced today at a ceremony marking the opening of the Center in Shanghai. With an investment volume of 10 million euros, the project reflects the major opportunities that Degussa recognizes in the Chinese market. The size, sustained dynamic development and thus overall economic potential of this market make it a highly attractive one for Degussa as the world's number one in specialty chemicals. Felcht: "We are seeking to considerably step up our activities in China over the medium term, and are holding extensive talks with a series of Chinese companies in pursuit of this aim." Degussa increased its sales in China in 2003 by 17 percent to around 280 million euros. The Group currently has 17 companies operating there, and plans in addition to set up a so-called "multi-user site". This is a site where new operations from several different business units are established. "Research, development and innovation are key elements in our strategy of sustained growth in China", states Dr. Alfred Oberholz, Degussa Management Board Member in charge of Research & Development (R&D). The intention was, as he noted, to incorporate China into the company's global R&D network, and hence Degussa was also aiming to enter into R&D cooperations with leading Chinese universities. The primary goal was to promote the sciences that have a close bearing on Degussa's operations. Degussa has around 3,100 employees working in R&D at more than 50 research locations worldwide. The company spent 347 million euros on R&D in its core business during the past fiscal year, amounting to 3.2 percent of sales. R&D - together with technical expertise in applications and proximity to customers - plays a highly prominent role for Degussa. With its innovative products and tailor-made system solutions, the company creates something valuable and indispensable for its customers' success. Degussa sums this up in its claim "creating essentials". Felcht: "To achieve this, we need to know our customers' systems in detail - ideally, better than the customers themselves, in fact." The aim of the new R&D Center in Shanghai is to make a major contribution to this. Eric Baden, President of Degussa (China) Co., Ltd., the Group's holding company in China, notes that: "The new center means Degussa can now pursue specific product developments locally to an even greater extent, and help potential customers become familiar with these developments. This will make it possible to take the special requirements of the Chinese market even better into account." The new, 6,900-square meter R&D center houses state-of-the-art laboratories, facilities for marketing and application engineering, and technical after-sales service, amongst others.

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