Ashland increases China investment to build new plant and tech center
Ashland Inc. announced nearly $80 million in expansion projects for the company's operations in China. The projects consist of a new resin production plant and a technology and business services center.
"The growth we are experiencing in China's dynamic business environment is exciting, and our continued strategic investment in this region further positions Ashland as an industry leader," said Dale MacDonald, president of Ashland China. "These investments will further support our ability to service customers and to develop products and technologies to meet the needs of the local market."
A new unsaturated polyester resin (UPR) plant, to be built in northern China, represents an estimated initial $35 million investment. Current plans call for the plant to be operational in 2009.
Ashland's other capital expansion project announced today is a $43 million technology and commercial center, which will be located in Shanghai. The facility, expected to be completed in 2008, will also house management and business services that support Ashland's operations throughout China. With more than 400 employees in China, Ashland currently has offices in Shanghai and Beijing, and manufacturing facilities in Beijing, Changzhou, Kunshan and Nanjing.
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