Degussa Takes Significant Decision Regarding China Site

04-Oct-2004
Degussa AG is determinedly expanding its commitment in China: A so-called multi-user site for new production activities of several Degussa business units is to be constructed in Shanghai. A strategic cooperation agreement to this effect has been signed in Dusseldorf by the Degussa Management Board Chairman Prof. Utz-Hellmuth Felcht and Yanhua Ruan, President Shanghai Chemical Industry Park, in the presence of Yanzhao Hu, Vice Mayor of Shanghai. Felcht: "This is an important step in expanding our China commitment. With the new multi-user site we are creating an expandable platform for establishing our business units' production facilities in the future." Sharing the use of the site infrastructure will make it easier for Degussa's individual business units to considerably strengthen their activities in the Chinese market. The new multi-user site is located in the "Shanghai Chemical Industry Park" (SCIP) on the southern outskirts of the city. The investment will be pooled into Degussa specialty chemicals (Shanghai), a subsidiary of Degussa (China) Co., Ltd., the Chinese holding. The first project is a polyester facility of the coatings & Colorants Business Unit, which is to manufacture premium quality products and solution systems for the Chinese coatings industry from the beginning of 2006.

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