DSM plans to build a new factory in Jiangsu province

SHANGHAI - Royal DSM NV, the global life sciences and materials sciences company, will launch a 500 million yuan ($76 million) project in Nanjing, Jiangsu province to build a new production facility for composite resins targeted at the Chinese market.

The facility, scheduled to be operational in June 2012, will produce 100,000 tons of composite resins annually. It will be a joint venture, with 75 per cent shares owned by DSM and 25 per cent by Sinopec Assets Management Co Ltd, said Michael Effing, president of DSM Composite Resins, on Friday.

"The facility will substantially strengthen DSM's position in the Chinese composite materials market," said Effing.