Formica expands in China
Formica will be building a new laminates plant in Jiujiang, China, in the Jiangxi Province, to satisfy the demand for its products in Asia. The 500,000-sq.-ft. facility, Formica’s second laminates plant in China, will double the company's capacity in China and allow for additional market growth. Its completion is slated for 2013.
In a prepared statement, Mark Adamson, Formica president and CEO, said: "The commercial construction boom, coupled with the massive construction of government-subsidized housing projects, has accelerated the demand for laminate. The Chinese market -- already twice the size of the United States market -- continues to grow by 15% a year. We're confident about the future of laminate -- the future of the Formica Brand -- in the world's largest market."