Topsoe board of directors approve capital investment to build catalyst plant in China
Haldor Topsoe A/S’ board of directors today approved the capital investment needed to carry out the construction that in two primary phases will establish a new automotive catalyst plant in Tianjin Economic Technological Development Area (TEDA) located roughly 100 km east of Beijing.
The construction of the plant has already begun and will run over the next two years consisting of two primary phases. The initial phase will be ready for production by April 2015 while the second will be ready by early 2016.
The total capital investment needed to complete the entire production plant is approximately 900 million DKK.
The catalyst production plant in Tianjin will be focused on manufacturing products that can be used to remove NOx from the engine exhaust of diesel vehicles namely medium and heavy duty vehicles such as light commercial vehicles, buses and trucks.
“We are pleased that the Topsoe board of directors has approved the capital investment to build our new plant in China. The Tianjin facility will significantly strengthen our presence and market position in China and we remain confident that the regulatory measures being taken by the Chinese government to curb air pollution will create attractive opportunities for us in the field of automotive catalysts”, says Bjerne S. Clausen, CEO of Haldor Topsoe.
The intention to build a new production plant in China was announced by Haldor Topsoe in June 2012 during former Chinese President Hu Jintao’s state visit to Denmark. This was later followed up by the signing of an investment agreement, which took place in Tianjin during Danish Prime Minister Helle Thorning-Schmidts official visit to China in September 2012.
Once complete the Chinese production plant will be Haldor Topsøe’s third production plant in the world in addition to its two current sites in Frederikssund, Denmmark and Houston, Texas.
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Peter Rønnest Andersen
Executive Vice President and Chief Financial Officer,