Swiss chemicals maker Clariant has suggested that the ongoing slump in China is on the up and is seeing a turnaround in demand for personal care products.
As a result the company is said to be upping investment in the country over the next two years as it taps into China’s environmental protection needs and is planning an integrated facility – a ‘one Clariant campus’ in Shanghai, where its current headquarters are based. It will hold innovation, research and development, sales and marketing, and will begin construction at the end of the year with operations expected to begin in 2018.
According to Shanghai Daily.com, Christian Kohlpaintner, member of Executive Committee, said, “Our investment in China will account for 40 percent of the total in 2017. The one Clariant campus is critical as it is one of our largest research and supply centres to boost our innovation in global markets.”
Clariant estimate that the China would be the main engine, overtaking North America, and contributing 60 percent of global growth in the chemicals industry.