25 July 2007 16:27 [Source: ICIS news]
HOUSTON (ICIS news)--US chemical company Ashland plans to invest nearly $80m (€58m) in a new resin production plant and a business centre in China, the company said on Wednesday.
Ashland will build an unsaturated polyester resin plant in northern China, valued at $35m, the company said. The plant should start operations in 2009, becoming Ashland's second resin plant in China.
The first plant opened in 2005 in Changzhou, Ashland said. The company is expanding the plant to triple its capacity.
Ashland also plans to build a $43m technology and commercial centre in Shanghai, it said. When completed in 2008, the centre will house Ashland's management and business services that support its operations in China.
($1 = €0.72)
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