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Degussa has big plans for China

Published on 2003-02-13. Author : SpecialChem

 

In the course of festivities held in Beijing last week to mark the inauguration of Degussa (China) Holding Co., Degussa Chairman Utz-Hellmuth Felcht set out ambitious plans for growth in China.

The new holding company becomes the parent of all of Degussa's operations in China. Degussa employs more than 1,000 people in the country and had sales of about $210 million in 2001. But it plans to double that within the next few years through investments totaling more than $100 million.

Among Degussa's current Chinese projects are a $10 million R&D center it expects to open in Shanghai at the end of this year. Additionally, the firm has begun construction of a plant to make the amino acid l-methionine in Wuming, near Nanning, the capital of the southern Guangxi region. The plant will have capacity of about 350 metric tons per year when it opens early in 2004. At the same site, the firm is nearing completion of a plant to process 500 metric tons per year of amino acids for parenteral solutions.

Other recent Degussa investments, both made in Shanghai last fall, are a plant for oligomers and silicones and the purchase of a 70% stake in a sodium persulfate maker. Felcht predicts China will be the world's second largest specialty chemicals market, after the European Union, by the time it hosts the Olympic games in 2008.


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