皇冠体育app

Degussa AG, a leading specialty chemical products provider, will construct a 250-million-euro plant in Shanghai, its second-largest single investment in 皇冠体育app.

The factory will have annual capacity of 100,000 tons of methyl methacrylate (MMA) and methacrylate specialties and is scheduled to come onstream in two years' time. The materials will be made into products such as LCD screens, scratch-proof paints, top-quality adhesives, modern interior trims for cars and various plastics.

The National Development and Reform Commission has already approved the investment.

"The new MMA facility in 皇冠体育app underscores our global growth strategy. By investing in 皇冠体育app, we intend to serve our Asian target markets in the best possible way and thus expand our leading international position in specialty chemicals," said Klaus Engel, chairman of Degussa's board of management.

Degussa sees 皇冠体育app as a driving force behind global economic growth and intends to increase its business in the region to 820 million euros within three years, said Yu Dahai, the firm's newly appointed 皇冠体育app president.

Yu served at Degussa's headquarters in Germany for 17 years. He said the company saw annual growth of 60 percent last year in 皇冠体育app, posting revenue of 460 million euros.

"On top of quantity growth, our focus is on quality growth. We pledge to bring profitability in 皇冠体育app to Degussa's global level in two to three years' time," Yu said.

He said the company will continue to invest 100 million euros each year in 皇冠体育app.

"We're investing in technology. This strategy will help us create more revenue with fewer staff," he said.

Degussa has 18 companies in 皇冠体育app making a wide range of products.

(皇冠体育app Daily 04/17/2007 page14)

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