China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (3948)	12/22/2004 12:47:56 PM
From: RealMuLan	Read Replies (1) of 6370

BASF to invest US$30m in China www.chinaview.cn 2004-12-22 10:19:01 BEIJING, Dec. 22 -- Germany's BASF AG said Tuesday it was investing US$30 million in a new production plant for coating materials in Shanghai Chemical Industry Park. Construction of the plant was set to start mid-2005 and to be completed by the end of 2006, the company said. The plant is expected to produce more than 8,000 metric tons of coating materials known as polyisocyanates, which are widely used in manufacturing automotive, industrial and wood paints. BASF said the facility would supply the entire Asian market. “We will gradually but systematically expand our worldwide business in coating materials with production plants in the regions that count for us,” said Dr. Gerd Lobbert, head of BASF’s Performance Chemicals for Coatings, Plastics and Specialties unit. BASF, one of Europe’s leading suppliers of coating materials, has been heightening its presence in the Asian market, especially China. (Source: Shenzhen Daily-Agencies) news.xinhuanet.com

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