Adhesives company Henkel has inaugurated the world’s largest adhesives factory in a €50 million investment at the Shanghai Chemical Industry Park in China.
The Germany-based company says the move is a response to “rising demand for industrial adhesive technologies in China and the entire Asia-Pacific region”.
The new Henkel factory, known as the ‘Dragon Plant’, comprises 150,000sqm of space and is now said to be the central production site for industrial adhesives in China and the Asia-Pacific region.
The new site will employ about 600 people, with annual output forecast to reach up to 428,000 tonnes of adhesives.
“This new adhesives factory will contribute significantly to the achievement of our strategy 2016,” says Kasper Rorsted, chairman of the management board of the Henkel Group.
“It will enable our Adhesives business to expand and leverage its global reach, and win market share in emerging markets.”
One of Henkel’s financial targets for the year 2016 is to increase sales generated in emerging markets to €10 billion while aiming for total sales of €20 billion.