30 June 2005 05:11 [Source: ICIS news]
SHANGHAI (CNI)--Speciality chemicals producer Rohm & Haas (R&H) has broken ground on its new research and development (R&D) centre at Zhangjiang Hi-Tech Park in Shanghai, China, on Wednesday, the company announced.
The R&D centre will cost $30m (Euro24.8m) and occupy an area of 33,000 square metres.
About 350 researchers, technical and sales personnel from other R&H offices in Shanghai will be stationed at the centre, which will start operating in mid-2006.
R&H’s chairman and chief executive officer, Raj Gupta, said that the new R&D centre marked the company’s ongoing commitment to serve a rapidly growing customer base in the Asia-Pacific region.
The company said that it could double its investment at the centre depending on long-term growth.
R&H operates more than 30 technical centres in the world. It reaped in annual sales of approximately $7.3bn last year and is expected to spend about $280m on R&D in 2005.
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