Evonik Industries is significantly expanding its global isophorone (IP) and isophorone diamine (IPD) capacities by funding an investment of more than €100 million in Shanghai, China. The new production plants will be completed in the first quarter of 2014 and will increase the total capacities of IP and IPD significantly.
"We're investing in China, because we are committed to the growth region Asia. As a world leader in isophorone-based products, we will continue to further consolidate and expand our position in this chemistry," says Dr. Ulrich Küsthardt, President of Evonik's Coating and Additives Business Unit.
With the Group's expansion strategy it aims to support the growth ambitions of key customers in Asia and around the world. Proximity to consumers in this growing market will translate into improved local service, shorter lead times, and faster responses to changes in demand. "Our aim in building the plants in Shanghai- at the company's existing multi-user site-is to supply our Asian customers with the same high-quality products they are used to from our plants in Europe and the USA, now from a plant in the region," says Gerd Brand, senior vice president and head of Crosslinkers Business Line.
Evonik is one of the global market leaders in isophorone chemistry with production facilities in Herne, Marl (Germany), Mobile, Alabama (USA) and Antwerp (Belgium). Its products are known worldwide under the brand names of Vestamin, Vestanat, Vestagon and Vestasol.