The plastics unit of US industrial giant General Electric announced that it would spend at least US$200m over the next three years to buy Chinese rivals and build new facilities, in a bid to double sales in the Chinese market. GE Plastics currently has sales of US$550m in China, selling plastic pellets produced in its two Shanghai plants to industrial customers. In April this year it bought Zhongshan Plastic Sunsheet, which makes polycarbonate multiwall sheets for weatherproofing walls.
China Economic Times quoted unnamed officials as saying that China would need 23m tonnes of plastic pellets this year, while domestic supply stood at 11m tonnes.
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