INTERNATIONAL BUSINESS
Saturday, March 6, 2004
DuPont to buy assets of China's Guangzhou Montelli
PTI
SAN FRANCISCO: DuPont, the second-biggest US chemical maker, will buy the assets of China's Guangzhou Montelli Material Technology Corp for an undisclosed price to broaden its line of materials used in countertop surfaces and furniture.
The assets are in the cities of Guangzhou and Xishui, and include 400 employees and the Montelli solid-surface brand, Wilmington, said Delaware-based DuPont in a release.
The purchase is part of a strategy of increasing business in growing markets such as China, where DuPont already sells Corian, the statement said. Corian is used to make countertops, sinks, showers and tubs. It will continue to be made in Buffalo, New York, and locations in Japan and Korea.
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