Evonik Industries A.G. has begun construction of a production facility for organically modified specialty silicones in Shanghai.
The firm said in a March 22 news release that the investment volume is in the high double-digit million Euro range, but it did not give an exact figure. It will be located in the Shanghai Chemical Industry Park, with completion planned for mid-2017.
“With this investment, we are strengthening our position as a market and technology leader,” Chairman Klaus Engel said in a statement. “We want to expand our specialty silicones production capacities in Asia to serve the rising demand with local production.”
Evonik said the investment in China is part of a global initiative. The firm first expanded its production plant in Essen, Germany, in late 2014.
Specialty silicones offer a wide range of applications for numerous industries. Evonik said its 15 years of successful business operations in Shanghai gave it the confidence to continue to support the region.
Essen-based Evonik operates in more than 100 countries with 33,500 employees. It generated sales of about $15.2 billion in fiscal 2015.
