With the sustained and rapid development of the Chinese economy, transnational chemical companies have shown a stronger desire for investment in the Chinese chemicals market with great potential for development, and investment has begun to increase. According to the latest survey report from Globalchem ​​Consulting Company in the United States, foreign investment in the field of specialty chemicals is even more compelling. A group of well-known chemical companies have seized the opportunity of China to strengthen the industrial chain of specialty chemicals, and have expanded investment scales by 2008. China's specialty chemicals will become the second largest market after the EU.
Rhodia, a manufacturer of specialty chemicals, recently announced that it will build a 200,000-ton/year methylchlorosilane production plant with China Bluestar Chemical Co., Ltd. in Tianjin, bringing the company's total investment in China to 448 million. Dollars. The company’s CEO stated that investment in the Chinese market in the next five years will account for one-third of the company’s total investment, compared with only 15% in the past three years. Rhodia currently has 8 wholly-owned enterprises, 7 joint ventures, and 1 R&D center in China. The business covers automotive, tires, electronics, personal care products, paints and coatings.
The Chairman of the Degussa Board of Directors stated that Degussa will continue to increase its investment in China and build a complete industrial chain from production to sales to R&D in China. At present, Degussa is planning to invest at least 10 different projects in the Shanghai Sheng Chemical Industry Park, and it will invest 100 million Euros each year in the next few years. The company will also expand the production capacity of construction chemicals to meet the relevant needs of the 2008 Beijing Olympic Games. Since 1988, Degussa has 17 manufacturing companies in China, and cooperation with Chinese companies has further enhanced its position in the global chemical industry.
Continuing to increase investment in R&D in China is also a consensus among many multinational chemical companies. Ciba Specialty Chemicals invested 20 million U.S. dollars at the beginning of this year to start its first global R&D center in Shanghai. According to the chairman of the company, innovation is the core driver of Ciba's global development, and the Shanghai R&D center will provide full support for the company's business unit in China. Previously, the company has completed investment of 300 million U.S. dollars in China, totaling 3 trading companies and 12 production bases. China has become the third largest market for Ciba after the United States and Germany.
Du Pont also recently invested $15 million in a research institute in Shanghai to serve its business development in China. In 2004, DuPont's sales in the Greater China region increased by 32% year-on-year, ranking first among its global business growth. The president of the company stated that in the next five years, DuPont will convert 25% of its business into a knowledge-intensive industry and establish five growth platforms for agriculture and nutrition, electronics and communications technology, high-performance materials, paints and pigments, security and protection. And these areas will all look for opportunities in China. It is expected that DuPont will invest an additional 100 million U.S. dollars each year in China in the next two to three years.
Rhodia, a manufacturer of specialty chemicals, recently announced that it will build a 200,000-ton/year methylchlorosilane production plant with China Bluestar Chemical Co., Ltd. in Tianjin, bringing the company's total investment in China to 448 million. Dollars. The company’s CEO stated that investment in the Chinese market in the next five years will account for one-third of the company’s total investment, compared with only 15% in the past three years. Rhodia currently has 8 wholly-owned enterprises, 7 joint ventures, and 1 R&D center in China. The business covers automotive, tires, electronics, personal care products, paints and coatings.
The Chairman of the Degussa Board of Directors stated that Degussa will continue to increase its investment in China and build a complete industrial chain from production to sales to R&D in China. At present, Degussa is planning to invest at least 10 different projects in the Shanghai Sheng Chemical Industry Park, and it will invest 100 million Euros each year in the next few years. The company will also expand the production capacity of construction chemicals to meet the relevant needs of the 2008 Beijing Olympic Games. Since 1988, Degussa has 17 manufacturing companies in China, and cooperation with Chinese companies has further enhanced its position in the global chemical industry.
Continuing to increase investment in R&D in China is also a consensus among many multinational chemical companies. Ciba Specialty Chemicals invested 20 million U.S. dollars at the beginning of this year to start its first global R&D center in Shanghai. According to the chairman of the company, innovation is the core driver of Ciba's global development, and the Shanghai R&D center will provide full support for the company's business unit in China. Previously, the company has completed investment of 300 million U.S. dollars in China, totaling 3 trading companies and 12 production bases. China has become the third largest market for Ciba after the United States and Germany.
Du Pont also recently invested $15 million in a research institute in Shanghai to serve its business development in China. In 2004, DuPont's sales in the Greater China region increased by 32% year-on-year, ranking first among its global business growth. The president of the company stated that in the next five years, DuPont will convert 25% of its business into a knowledge-intensive industry and establish five growth platforms for agriculture and nutrition, electronics and communications technology, high-performance materials, paints and pigments, security and protection. And these areas will all look for opportunities in China. It is expected that DuPont will invest an additional 100 million U.S. dollars each year in China in the next two to three years.
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