Degussa Coatings & Colorants to Construct New Plants in China

Plans to Produce Colorants and Coating Polyesters

December 03, 2003

Shanghai - The Coatings & Colorants Business Unit of Degussa AG has announced plans to build a colorants plant and a manufacturing facility for producing coating polyesters at the Shanghai site of Degussa Chemicals (Shanghai) Co. Ltd. The new facilities will be dedicated to serving Coatings & Colorants customers in the rapidly expanding Chinese market.

The new plants will provide high-quality product solutions for Chinese paint and coatings manufacturers. By investing in these new state-of-the-art facilities, Degussa Coatings & Colorants is confirming its belief in the dynamic future of the Chinese market, as well as its commitment to supporting its clients on a global basis.

Founded in November 2002 - Degussa (China) Co., Ltd. is to unite and expand Degussa's activities in the China region. Today, Degussa in China operates a total of seventeen companies with production sites in Beijing, Guangzhou, Nanning, Qingdao, Shanghai and Hong Kong. In fiscal 2002, the Group generated total sales of approximately € 240 million in China with a workforce of more than 1100 employees. Degussa's mission for China is to become its most committed partner in specialty chemicals.

Degussa is a multinational corporation consistently aligned to highly profitable specialty chemistry. With sales of 11.8 billion Euro and a workforce of some 48.000, it is Germany's third-largest chemical company and the world market leader in specialty chemicals. In fiscal 2002, the corporation generated operating profits (EBIT) of more than 900 million Euro. Degussa's core strength lies in highly-effective system solutions that are tailored to the requirements of its customers in over 100 countries throughout the world. Degussa's activities are led by the vision "Everybody benefits from a Degussa product - every day and everywhere".

Contact:
Arno Verhoeven
Phone: +1-973-541 89 21