Ashland to invest US$80 mln in expansion projects in China

26-Jul-07
Ashland Inc. plans to invest US$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. To further position Ashland as an industry leader in China's dynamic business environment, the company has planned this strategic investment. These investments will support the company's ability to service customers and to develop products and technologies to meet the needs of the local market. An initial investment of US$$35 mln will be towards a new unsaturated polyester resin (UPR) plant, to be built in northern China. Current estimates peg plant start up in 2009. Ashland's existing UPR production plant in Changzhou is currently undergoing expansion to triple production capacity. US$43 mln will be invested in a technology and commercial center to be located at Shanghai. The facility is expected to be completed in 2008, and will also house management and business services that support Ashland's operations throughout China.
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