The new facility will replace the current plant and DSM claims it will one of the largest manufacturing plants for composite resins in the world. The new unit is expected to come on stream early 2012.
DSM's share in the investment is 75%.
DSM holds 75% of the shares in JDR and Sinopec Assets Management Co Ltd holds the remainder.
"This investment perfectly fits in our strategy DSM in motion: driving focused growth," reports Nico Gerardu, Member of the DSM Managing Board and responsible for the Performance Materials cluster. "For several years in a row demand for composite resins in China has been larger than the capacity to produce. With this large investment in local manufacturing capacity DSM is preparing itself to take our growth in China in composite resins to the next level. It will also contribute to our 2015 target of doubling DSM's sales in China compared to 2010 to over USD 3 billion."
"With this new factory, in combination with the new R&D Center for composite materials in Shanghai which we announced in October 2010, we, together with our JV partner Sinopec look with confidence to a bright future ahead for our composite resins business in China," adds Dimitri de Vreeze, President DSM Resins.
DSM Composites Resins, headquartered in Switzerland, is globally expanding its activities in structural resins, especially in China and India, targeting high added-value segments. In China, DSM supplies speciality unsaturated polyester resins and vinyl ester resins.
