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The Warsaw Voice » Business » June 25, 2008
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Selena Invests in China
June 25, 2008 By L.¯.    
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The Polish-owned Selena group, a global manufacturer and supplier of chemical products for the building industry, has signed a contract with China's Nantong Economic & Technological Development Area Administrative Committee to build a production plant in China. The plant, which will cost around zl.25 million to build, will be located within the Nantong economic zone near the city of Shanghai.

The new plant will produce foam sealants, caulks and adhesives for both China and other Asian markets. The new facility is expected to launch production in the second half of 2009. Under the contract, Selena will acquire rights to a plot of nearly 50,000 sq m for about zl.5.2 million for a period of 50 years, and register a company with an initial capital of $11 million in the Nantong zone. "We are the first Polish investor in the Nantong zone, which is located not far from Shanghai," said Krzysztof Domarecki, president of Selena FM SA, the group's parent company. "The main goal of the project is to considerably increase revenues from the sale of the group's products in Asia, mainly in China."

The plant in the Nantong zone is Selena's second project in China. The first was Foshan Chinuri Selena Chemical Co. Ltd., a joint-venture company with a South Korean partner that deals with the production and delivery of caulks and adhesives in China.

Selena is the world's fourth largest producer of polyurethane foam sealants for windows and doors. The group comprises 26 companies, including 18 abroad, and 10 production plants, of which four are in Poland and one each in Italy, Brazil, South Korea, China, the United States, and Turkey.
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