Paris-based Arkema Group, a diversified PVC, additives and acrylics maker, has unveiled a series of investments aimed at raising the share of its sales generated in Asia from today's figure of 13 percent to 20 percent by 2012.
Heading the project list is a new plant to make Kynar-brand polyvinylidene fluoride at Arkema's existing site at Changshu, north of Shanghai. Work on the plant will start early next year for completion in 2011. The new plant will give Arkema a Kynar manufacturing base in Europe, the United States and Asia.
A second commitment to the Chinese market comes in Beijing, where Arkema will double the capacity of its PVC tin-based heat-stabilizer plant to 26.5 million pounds per year. The project is scheduled for completion in the first quarter of 2008.
``As Asia is our fastest-growing market, this investment reinforces our commitment to serve our customers in the PVC building, construction and packaging markets,'' said Rich Rowe, president of Arkema's functional additives division.
The announcements come against the background of a Sept. 25 investor presentation headed by Arkema Chief Executive Officer Thierry Le Henaff, in which he highlighted strong improvement in the company's first-half performance.