Chemical company from Switzerland finds growth formula

Specialty chemicals supplier Clariant Ltd will pick up its pace of investing in China amid projections of surging demand for plastic materials during the nation's latest round of urbanization.

The Swiss firm will build a Ceridust production facility in Zhenjiang, in East China's Jiangsu province, to serve the agriculture, packaging and automotive industries, said Christian Kohlpaintner, a member of the company's executive committee.

"The plant design will allow future expansion, depending on market development. We expect to build the plant on our existing site in Zhenjiang, making use of its good logistics and proximity to markets," he told a news conference in Shanghai.