U.S.-Based Du Pont To Invest Additional
Us$100 Mln In China
SHANGHAI, Sep 22, 2003 (AsiaPulse
via COMTEX) -- The United States-based multinational DuPont will invest
additional US$100 million in China and move more of its regional business
headquarters to the Chinese mainland in the next two to three years.
Jeff Keeffer, DuPont's vice-president for global operations, made the pledge while addressing a ceremony to mark the inauguration of a titanium dioxide client service center in Shanghai.
Titanium dioxide is mainly used in industries such as coating, plastics, paper-making, and printing ink. DuPont is the world's largest supplier of titanium dioxide.
Covering an area of 18,000 square meters and costing US$6 million, the service center will meet the demand of clients in China, support DuPont's business in the Asia-Pacific region and develop new products for the water-based emulsion paint market in China.
Keeffer said DuPont would also build a comprehensive research and development center in Shanghai which would be ready for operation by 2005.
Charles G Browne, president of DuPont China Holding Co. Ltd., said DuPont had maintained double digit growth with its business in China despite a global economic slowdown.
The China market had Du Pont's best hope and greatest potential, said Browne.
To date, Du Pont has invested a total of US$700 million in China and built 22 solely-invested or joint ventures, plus three subsidiaries, manufacturing products or offering services involving the chemical industry, agriculture, foodstuffs, electronics, textiles and automotive sectors.
(XIC)
(C) 2003 Asia Pulse Pte Ltd