Degussa, a specialty chemicals supplier from Germany, is expanding its operations in China, planning to boost sales in the country to 800 million euros in 2009.
The Beijing-headquartered Degussa China Co., Ltd. has spent over 22 million euros to expand its research and development center in Shanghai. The investment included the construction of a pilot facility for polymer engineering in a four-story building with a space of 1,250 square meters.
In fiscal year 2006, 4,000 employees generated sales of 460 million euros in China, up 60 percent from 288 million euros in 2005.
Degussa has also planned an annual investment of about 100 million euros in China for the coming few years.
Since the early 1990s, Degussa has been producing specialty chemical products in China. The group has more than 20 companies in China, with 13 production sites including Changchun, Dalian, Jining, Qingdao and Shanghai.
(Xinhua News Agency August 20, 2007)