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Degussa Invests Amino Acids Manufacturer in China
An amino acids manufacturer funded by Degussa, the third-largest special chemicals company in Germany, will be in operation in 2003, according to Degussa CEO Dr. Utz-Hellmuth Felcht, who is here attending the ongoing 5th International Exhibition-Congress on Chemical Engineering and Biotechnology.
The joint venture, involving a 22 million-U.S. dollar investment, is the product of cooperation between the Chinese amino acid manufacturer Nanning Only Time Pharmaceuticals and Rexim SA, France, a full subsidiary of Degussa.
Dr. Felcht said that half of the joint venture's products will be imported worldwide. He hoped to develop the new joint venture along with Rexim into the world's largest amino acids supplier.
Degussa has been investing in China since 1980, and recently established Degussa Holding Company (China) in a bid to expand business in this potentially gigantic market.
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