01 October 2004 10:24 [Source: ICIS news]
The signing was completed recently in Dusseldorf, Germany by company chairman Utz-Hellmuth Felcht and Yanhua Ruan, president of SCIP, in the presence of Yanzhao Hu, vice mayor of Shanghai.
A Degussa spokeswoman told CNI the first project at the multi-user site is a polyester facility of the firm’s coatings & colourants business unit.
The investment cost is about Euro10m ($12m) and the facility will manufacture products and solution systems for the Chinese coatings industry from the beginning of 2006, she added.
Degussa said sharing the use of the site infrastructure will help its individual business units strengthen their activities in the Chinese market.
Felcht commented: "This is an important step in expanding our
Degussa had already inaugurated a new research and development (R&D) centre in April as part of its
The firm currently has 17 companies operating in
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