IFU AND PENSION FUNDS JOIN HALDOR TOPSØE A/S IN CHINA INVESTMENT
Haldor Topsøe A/S is in the process of constructing a plant in China that will produce automotive catalysts capable of removing nitrogen oxides (NOx) from the engine exhaust of diesel vehicles such as busses and trucks. A total of DKK 900 million will be invested in the new plant, which will begin operation in 2015. IFU and the pension funds Pædagogernes Pensionskasse and PKA are contributing DKK 140 million in share capital. The contribution from the pension funds is channeled via IFU Investment Partners, an investment fund established and managed by IFU.
Growing air pollution and serious smog problems, particularly in the large cities in China, have prompted the Chinese government to introduce stricter regulation on emissions from diesel vehicles. This has opened new market opportunities for Haldor Topsøe, who is a world leader in the field of catalysis and related process technologies, and the company is therefore setting up local production to serve the Chinese market.
– The new plant will strengthen our presence and market position in China, and we are confident that the regulation introduced by the Chinese government will create opportunities for us in the field of automotive catalysts,” says Bjerne S. Clausen, CEO of Haldor Topsøe.
Construction work has already started at the plant site in Tianjin about 100 km east of Beijing and will be completed in two phases. The first part of the plant is expected to be ready to open in 2015 with the second part following suit in 2016.
Haldor Topsøe has previously worked with IFU on similar joint projects and expects to leverage the knowledge that IFU has gained from over 130 investments in China.
“We are very pleased that IFU and IIP have decided to invest in our plant. In addition to reducing our financial risk it means we now have a partner onboard with extensive experience in establishing and running business activities in China,” says Bjerne S. Clausen.
Haldor Topsøe press contact
Mads Cordt Gyldenkærne
Media Relations Manager
Corporate Communications & Marketing
Tel: +45 2275 4124
IFU press contact
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