MOSCOW (MRC) -- Henkel plans to invest more than €60m to build a new adhesive technologies centre in Shanghai, said the company.
Henkel today announced the construction of a new Adhesive Technologies Innovation Center in Shanghai. With an investment of more than EUR60 mln (RMB 500 million), the state-of-the-art facility will transform Henkel’s current Zhangjiang site into an Innovation Center for China and Asia-Pacific. The new site will also strengthen the position of Henkel Adhesive Technologies to serve a variety of industries and develop leading adhesives, sealants and functional coatings solutions for customers in the region.
"Our investment aligns with the direction of the Chinese government’s 14th Five-Year plan,” said Rajat Agarwal, president of Henkel Greater China. "In particular, it will further strengthen our innovative capabilities in China to support the country’s economic upgrading,” Agarwal said.
Targeted for completion in 2023, the state-of-the-art Innovation Center has a gross space of 32,000 square meters, including approximately 9,000 square meters of laboratories and 4,000 square meters of office space. Once operational, it will allow more than 400 Henkel experts and scientists to develop new technologies that support all Henkel Adhesive Technologies business and service areas.
As MRC informed earlier, Henkel has provided a business update for the third quarter and says that, based on preliminary figures, its adhesive technologies business unit achieved positive organic sales growth of 1.3% in the quarter. All business areas in adhesive technologies showed a recovery in demand compared with the second quarter, the company says. Henkel notes that in the first nine months of 2020, adhesive technologies recorded a 6.8% decline in organic sales.
Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 576,270 tonnes in the first three month of 2021, up by 4% year on year. Low density polyethylene (LDPE) and high density polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market totalled 410,890 tonnes in January-March 2021, up by 56% year on year. Supply of homopolymer PP and PP block copolymers increased.
MRC