Dec 17 2002
In a move that will see DSM Composite Resins position themselves for further growth into the Chinese market, they have acquired a further 25% stake in their joint venture with Sinopec Jinling Petrochemical Corp. This takes their total shareholding in the Jinling-DSM Resins joint venture to 75%.
DSM and Sinopec have also agreed to fund an expansion to the Nanjing production facility that will increase its capacity to an estimated 50,000mt. Extended capacity is expected to come on line in mid 2003.
DSM acquired their original 50% share in 1996, when they bought BASF’s 50% stake.
The plant is well respected in the area, featuring state-of-the-art technology and is a leading producer of resin for the rapidly expanding Chinese composites industry. The operation has quadrupled its capacity over the last few years to help cope with customer demands.
DSM’s increased investment underlines their commitment to become a leading supplier to the Chinese and Asian markets.
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