DuPont plans to double China investment by 2010
DuPont is planning a series of major investments in China, including one that will be the largest ever foreign investment by the US chemicals major, in a move that will see it double its China investments by 2010, a top company official said.
Tom Powell, president and chairman of DuPont China Holding Co, said DuPont is making some 'major strategic investments' in China, with some already started and others in various stages of negotiations.
He noted that this will depend, however, on obtaining commitment from local partners in some areas.
DuPont has so far invested over $600 000 000 in China through 32 wholly owned and joint-venture facilities which employ more than 5,000 people.
Powell said the company will invest over 100 mln usd per year in the coming years.
He said the company is in talks to establish a joint-venture titanium dioxide (Ti02) plant in Dong Ying in Shandong province with a prospective government partner. 'If this project moves smoothly it would be the largest ever overseas investment made by DuPont,' Powell said.
Ti02 is a white pigment used in the manufacture of paints and coatings.
Among the projects that had recently started operations, Powell noted the start-up of a 70 pct DuPont owned nylon filament joint-venture with Wuxi Xingda Nylon Co, and a hydroflurocarbon (HFC) refrigerant joint venture with Zhonghao New Materials Co.
The company also completed the construction of its R&D center in Shanghai's Zhangjiang High-tech Park in March.
Powell said DuPont is continuing to invest heavily in its largest China site in Shenzhen.
He said the company's investment in China and emerging markets is based upon the higher growth potential that exists in these areas. The sales growth rate in Greater China, including Taiwan and Hong Kong, was 32 pct in 2004, double the 16 pct worldwide growth rate, he noted.
Full news by AFX News Limited, SHANGHAI
Tom Powell, president and chairman of DuPont China Holding Co, said DuPont is making some 'major strategic investments' in China, with some already started and others in various stages of negotiations.
In general, over the next five years, we will more than double our investment in Chinahe said in a televised media briefing from Beijing.
He noted that this will depend, however, on obtaining commitment from local partners in some areas.
DuPont has so far invested over $600 000 000 in China through 32 wholly owned and joint-venture facilities which employ more than 5,000 people.
Powell said the company will invest over 100 mln usd per year in the coming years.
He said the company is in talks to establish a joint-venture titanium dioxide (Ti02) plant in Dong Ying in Shandong province with a prospective government partner. 'If this project moves smoothly it would be the largest ever overseas investment made by DuPont,' Powell said.
Ti02 is a white pigment used in the manufacture of paints and coatings.
Among the projects that had recently started operations, Powell noted the start-up of a 70 pct DuPont owned nylon filament joint-venture with Wuxi Xingda Nylon Co, and a hydroflurocarbon (HFC) refrigerant joint venture with Zhonghao New Materials Co.
The company also completed the construction of its R&D center in Shanghai's Zhangjiang High-tech Park in March.
Powell said DuPont is continuing to invest heavily in its largest China site in Shenzhen.
He said the company's investment in China and emerging markets is based upon the higher growth potential that exists in these areas. The sales growth rate in Greater China, including Taiwan and Hong Kong, was 32 pct in 2004, double the 16 pct worldwide growth rate, he noted.
Full news by AFX News Limited, SHANGHAI
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