ICI's China expansion
Friday 03 November 1995
ICI has announced two new plants in Shanghai at a total cost of about $440m (pounds 379m). ICI Polyurethanes is setting up a joint venture with a local company to establish a "world-scale" factory to supply MDI, used in the refrigeration, building insulation, footwear and furniture industries. The investment will be around $400m, with the rest of the total accounted for by a second Chinese operation for ICI Paints. The new site will be in the Songjiang industrial zone in Shanghai in a joint development with Swire Pacific.
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