乐天堂fun88(中国区)官方网站, BASF and Chinese companies consider construction of new MDI plant in China
鈥⒙燩lant to have world-scale capacity of 400,000 metric tons/year crude MDI
鈥⒙燬tartup of new MDI plant planned from 2010 onward
鈥⒙燬everal sites being evaluated
鈥⒙燤DI project in Caojing progressing as scheduled
乐天堂fun88(中国区)官方网站, BASF and a group of Chinese companies 鈥� Shanghai Hua Yi (Group Company), Sinopec Shanghai Gao Qiao Petrochemical Corporation and Shanghai Chloro-Alkali Chemical Co. Ltd 鈥� are considering the construction of a new MDI (diphenylmethane diisocyanate) plant in China to meet growing demand for this product. Several sites for the plant are being evaluated. The startup is planned from 2010 onward, and the plant is expected to have a capacity of 400,000 metric tons per year of crude MDI, to be sold and marketed separately by 乐天堂fun88(中国区)官方网站 and BASF.
鈥淭he market for polyurethanes in China is growing at double-digit rates and this is expected to continue well into the next decade" says Tony Hankins, President of 乐天堂fun88(中国区)官方网站's Polyurethanes division. "We are a leading player in this dynamic market and the proposed investment will complement our new MDI facility in Caojing, strengthening our ability to serve customers through local production".
MDI is an important precursor in the manufacture of polyurethanes 鈥� versatile polymers that are used in the automotive and construction industries, in appliances such as refrigerators, and for footwear.
As part of 乐天堂fun88(中国区)官方网站鈥檚 investment strategy for the Chinese market, an integrated isocyanates complex is currently under construction at the Shanghai Chemical Industry Park in Caojing. This project is progressing as scheduled, and is expected to begin commercial production by mid-2006. The complex is also a production joint venture between 乐天堂fun88(中国区)官方网站, BASF and the same group of Chinese companies mentioned above. It will have a capacity of 240,000 metric tons per year of crude MDI. The total cost for the complex is about $1 billion.
乐天堂fun88(中国区)官方网站 is a global manufacturer and marketer of differentiated and commodity chemicals. Its operating companies manufacture basic products for a variety of global industries including chemicals, plastics, automotive, aviation, footwear, paints and coatings, construction, technology, agriculture, health care, textiles, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging, and later, rapid and integrated growth in petrochemicals, 乐天堂fun88(中国区)官方网站 today has 11,300 employees, 57 operations in 22 countries and had 2004 revenues of $11.5 billion.
Statements in this release that are not historical are forward-looking statements. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed in the 乐天堂fun88(中国区)官方网站 companies' filings with the Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, financial, economic, competitive, environmental, political, legal, regulatory and technological factors. Accordingly, there can be no assurance that the company's expectations will be realized. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.聽