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Akzo Nobel expands chemical operations in China
AMSTERDAM, Oct 13 (Reuters) - Dutch chemical group Akzo Nobel NV said on Thursday it will expand its operations in China by investing 15 million euros ($17.97 million) in two new production facilities. "In addition to building a new polysulfides plant in Taixing, the company will construct a new paper chemicals site in Guangzhou, two projects which emphasize the business' ambitious growth plans for the region," the company said in a statement.
The 10,000-tonne polysulfides plant is due to become operational in 2007, while the construction of the pulp and paper plant is expected to be completed in the fourth quarter of next year, Akzo said.
US Trade deficit surges as oil imports hit record high
America's deficit with China hit a record at $17.6 billion in June, surpassing the old mark of $16.8 billion set last October. Last year, the deficit with China hit $162 billion, the highest imbalance ever recorded with any country, but this year's imbalance is running 32 percent above the 2004 pace.
CHINA'S MARKET DEMAND FOR ADHESIVES FORECAST TO GROW 11%
China imported 191,200 tons of adhesive products valued at US$532.017 million in 2004, up 7.48 per cent and 30.64 per cent year-on-year respectively. The major imports included raw materials and related accessory ingredients, and special adhesives, mainly from the United States, Germany, Japan and Taiwan Province.
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