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BIZCHINA / Center
Degussa expands operations in China
(People's Daily Online)
Updated: 2007-08-20 14:43
Degussa, a specialty chemicals supplier?in Germany, is expanding its
operations in China, planning to boost sales in the country to 800
million euros in 2009.
The Beijing-headquartered Degussa China Co Ltd has spent over 22 million
euros to expand its research and development center in Shanghai. The
investment included the construction of a pilot facility for polymer
engineering in a four-story building with a space of 1,250 square meters.
In fiscal year 2006, 4,000 employees generated sales of 460 million euros
in China, up 60 percent from 288 million euros in 2005.
Degussa has also planned an annual investment of about 100 million euros
in China for the coming few years.
Since the early 1990s, Degussa has been producing specialty chemical
products in China. The group has more than 20 companies in China, with 13
production sites including Changchun, Dalian, Jining, Qingdao and
Shanghai.
(For more biz stories, please visit Industry Updates)
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