Investment by Singapore Dove Group in Changzhou High-Tech District

CHANGZHOU, China, April 28 /PRNewswire-Asia/ -- Dove Energy Saving and Decorative Materials (Changzhou) Co., Ltd, a company invested by Singapore Dove Coatings (Holdings) Pte Ltd, has recently received its business license for Changzhou National High-Tech District(CND) and is now officially established. The registered capital of this Company is US$ 10 million and the total investment amounts to US$ 20 million. It specializes in engaging in the research and development, manufacturing and sales of energy-saving building materials, insulation systems for exterior walls of buildings, environmentally-friendly decorative building materials and waterborne paints such as fire-resistant and heat insulating paints.

Dove (Changzhou) Co. is the extension and expansion of Dove (Shanghai) Co. It will ultimately replace the Shanghai company within two years to become its research and development, and production base in China. The plans for Dove Energy Saving and Decorative Materials (Changzhou) Ltd are divided into two phases of construction. The total investment for the first phase is approximately US$ 20 million with gross floor area (GFA) of 15,000 square meters. After the construction project is completed, the annual production for waterborne paints will be 5800 tonnes, water-based binder production will be at 500 tonnes and insulation products for exterior walls will be 200,000 square meters. These include various types of new decorative materials which are currently under development. This project is scheduled to be put into production in the first half of 2011.

Dove Coatings (Holdings) Pte Ltd is currently one of the world's largest manufacturers of exterior wall insulation and paints. In 1993, it set up Dove Paint (Shanghai) Co., Ltd in Shanghai. It now has branch offices in various provinces in China and has established business cooperation with many large real estate companies in China and overseas. Its cumulative gross area for completed projects on exterior wall insulation and paint has reached 60 million square meters.

Dove Energy Saving and Decorative Materials (Changzhou) Co., Ltd indicated that the Company will be adopting, internationally, the most advanced technology and premium-quality imported raw materials to produce decorative materials which save energy, are environmentally-friendly and ensure aesthetic effect on building facades.

Changzhou High-Tech District has been optimizing the foreign investment environment. As of the end of year 2009, a total of 1238 foreign investment enterprises have been established in the zone with total project investment of US$ 13.77 billion. In 2009, the entire zone achieved industrial output worth $140 billion, industrial profits and taxes of $10.5 billion, and 195 enterprises achieved annual sales revenue exceeding $100 million. Various priority industries such as the automobile, engineering, machinery, accessory, photovoltaic, fine chemical, bio-pharmaceutical, and creative industries have been emerging strongly in the zone.

    For more information, please contact:

    Wang Zhongliang
     The Publicity Department
     Administrative Committee of Changzhou National High-Tech District
     Jiangsu Province 213022
     Tel:   +86-519-8512-7305
     Fax:   +86-519-8511-5905
     Email: [email protected]
     Web:   http://www.cznd.gov.cn/

SOURCE Changzhou National High-Tech District