December 24, 2024 – German Chemical Giant Petrochemie Gruppe and Huizhou New Materials Industrial Park have achieved a pivotal breakthrough in their collaboration, officially signing an investment agreement for Petrochemie’s high-end coatings project. This landmark signing not only signifies the successful attraction of the first foreign-invested project to the Huizhou New Materials Industrial Park but also heralds another significant move by Petrochemie Gruppe in the Chinese market.
Petrochemie Gruppe, a German-owned coatings production giant, embarked on its journey of establishing a production base in China as early as 2003. The high-end coatings project set up in the Huizhou New Materials Industrial Park will leverage chemicals such as acrylic resin produced within the park as raw materials, aiming to create a brand-new high-end coatings production base. This represents not only Petrochemie’s second production base in China but also an important strategic move by the industrial park in the high-end coatings industry chain.
According to Color Masterbatch Industry Network, Petrochemie’s products are widely used in various fields such as automobiles, home appliances, and sports equipment. Furthermore, the company plans to intensify its research and development investment in aerospace coatings at the Huizhou base in the future, striving to produce a more diverse and high-end product range to tap into this potential market.
Andreas Peter, the fourth-generation heir of the German Petrochemie family, fondly recounted his deep connection with China during the signing ceremony and shared the thoughtful considerations behind choosing the Huizhou New Materials Industrial Park as the new production base. With the ever-expanding Chinese market, Andreas Peter noted that Petrochemie’s Shanghai base was nearing full capacity, yet market demand remained robust. To be closer to customers and the market, the company’s team underwent multiple rounds of screening and difficult decisions, ultimately selecting the Huizhou New Materials Industrial Park from 75 industrial parks. The park’s strategic location facilitates the company’s access to raw materials, customer service, and market expansion, while the enthusiastic support from the Huizhou government has given them immense confidence.
As the first foreign enterprise to invest, Andreas Peter admitted that they believe this will bring more development opportunities and first-mover advantages to the company. Therefore, they have decided to increase investment and expand production in Huizhou, jointly writing a new chapter for Petrochemie Gruppe in China.