Germany's Henkel, a world leader in consumer goods and adhesives, announced that it will spend about 500 million yuan ($78.1 million) rebuilding its office park in Zhangjiang, Pudong New Area, Shanghai into a new adhesive technology innovation center on May 21.
The new innovation center will cover a total of 32,000 square meters, including about 9,000 square meters of laboratories and 4,000 square meters of office space. It is scheduled to be completed in 2023.
Over 400 technical experts and scientists at Henkel will work in the new center to develop advanced adhesives, sealants, and functional coating solutions for customers in China and the Asia-Pacific region.
The center will showcase Henkel's diversified technologies and application products, and will feature an immersive digital experience space.
Henkel's clients will also be able to communicate directly with experts at the company to offer advice on its innovation development.
Rajat Agarwal, president of Henkel's China operations, said recently that over three decades of operating in China, the company has witness how deep market reforms have strengthened economic development and how the latest policies, including the recently announced high-standard market system, are creating new growth momentum.
"We are looking forward to the deepening of the dual-circulation development pattern, in which domestic and overseas markets reinforce each other with the domestic market as the mainstay, thereby reinforcing the strong business environment for foreign enterprises in China and opening a new chapter of shared opportunities," he said.