China. Evonik Industries confirmed the expansion of its installed isophorone (IP) and isoforondiamine (IPD) production capacity through an investment of more than 100 million euros in Shanghai.
The new production plants will be completed in the first quarter of 2014 and will increase the total installed capacity of this type of product. "We are investing in China because we are committed to the growth of the Asia region. We will continue to consolidate and expand our position in this chemical area," said Dr. Ulrich Küsthardt, President of Evonik's Coatings and Additives business unit.
According to the company, proximity to consumers in this growing market will translate into improved local service, shorter lead times and a faster response to changes in demand. "Our goal in building the plants in Shanghai is to provide our Asian customers with the same high-quality products they use from our plants in Europe and the U.S., now they will do so from a plant in the region," said Gerd Brand, senior vice president of Evonik.
