Infineum is continuing its expansion in Asia Pacific with the signing of a lease agreement for a three story building for its proposed new Business and Technology Centre (BTC) in Jinqiao, Shanghai, China. The BTC is the latest development for Infineum in China which set up its first office in the country in 1999.
Automotive sales in China reached 19 million in 2012 and the countrys vehicle population is expected to hit 350 million by 2030, bringing a huge increase in the requirement for lubricant additives. The primary objectives will be to conduct technology work in support of local customers and to co-ordinate and support business development in China, including the proposed wholly-owned blending plant in Zhangjiagang. The new three story, 4,500 square meter complex will comprise a laboratory and office space and is due to open in early 2014.
Fu Limin, Infineum China Managing Director says: The decision to open a facility in Shanghai is a sign of our commitment to better support customers in the Chinese market."
As a company we always strive to have the best people, technology and locations, and in Jinqiao we will have all three components, which will ensure we offer the best service to our local customer base."
The markets size and future growth means it is vital we have a strong presence in China to support our existing network and to provide a platform for further expansion in the future.
Trevor Russell, Executive Vice President of Infineum International Limited, adds: Success in China is critical to Infineums future, so it is vital that we have an excellent Business and Technology Centre in addition to first-class manufacturing facilities in the country."
I am confident that by setting up in Jinqiao Park, with its pleasant surroundings and access to outstanding local talent, we will be able to accelerate towards our goal of being the leading additives player in China.
Mr. Shen Rong, VP of JQ Group & President of Jinqiao Park, believes Infineums arrival at Jinqiao Park further strengthens its credentials as a world class industrial park.
He says: We would like to welcome Infineum and thank them for choosing to locate their China headquarters here in Jinqiao. We hope that in being situated alongside a number of other world leading international companies, particularly those operating in the manufacturing industry, Infineum will continue to thrive as an global organisation and realise its ambition to be the countrys number one additives company.
On April 23, 2012, Infineum broke ground for its new Salicylate plant, situated on Jurong Island in Singapore and on April 24, 2012, Infineum announced that it had signed a letter of intent with Zhangjiagang Industrial Park in Jiangsu Province, as the first step in the process aimed at building a new manufacturing complex in China.