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|Thursday, July 12, 2001, updated at 17:35(GMT+8)|
Swiss Multinational Inaugurates Citric Acid Plant in ShanghaiSwiss multinational F. Hoffmann- La Roche has recently inaugurated a citric acid joint venture in Wuxi, Jiangsu Province in east China, the company announced.
The joint venture with the Wuxi Zhongya Chemicals Ltd. has an annual capacity of 40,000 tons of citric acid, a large part of which will be exported.
Citric acid is widely used as a raw material in food, pharmacy and detergent industries.
The 75 million U.S. dollar joint venture is the largest investment in China by F. Hoffmann-La Roche. The company said it reflected its confidence towards the Chinese market.
The company has so far established five joint ventures and two solely funded businesses in China, involving an investment exceeding 275 million dollars. Its sales in the Chinese market was 262 million dollars in 2000.
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