DuPont China Holding Co Ltd announced in Beijing on March 18 it will focus its business development in five growth platforms in 2002.
These will be electronic and communication technology, performance materials, coating and color technology, safety and protection and food and nutrition.
The company recently decided to spend a further US$90 million to enlarge its lycra factory in Qingpu, East China's Shanghai.
By September next year when the extensions are completed, DuPont's annual lycra production will increase from the present 4,000 tons to 10,000 tons.
This is a sign that DuPont is shifting its textile business to the Asia-Pacific region, including China.
Charles G Browne, president of DuPont China Holding Co Ltd, said that despite the global economic slowdown, the company's business in China recorded an outstanding growth with a double-digit increase last year.
"China has been one of the countries in the Asia-Pacific region, if not in the world, in which Dupont's business has grown fastest," he said.
"We increased our investment in China in 2001 by setting up new ventures and expanding existing ones. We expanded our investment in Electronic Materials DuPont Dongguan by turning it into a wholly owned enterprise, established another wholly owned enterprise named DuPont Yun Meng Protein Co Ltd in Hubei, and a new joint venture in East China's Jiangsu Province," he said.
In addition the company's businesses also set up their own new branches or support centers in China last year.
Currently, DuPont's total investment in China exceeds US$600 million, and DuPont China has 18 wholly owned and joint ventured manufacturing facilities and five representative offices in the country.
(China Daily March 19, 2002)
