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An agreement signing ceremony for the construction of Sika Group's factory in the Dushan Port Economic Development Zone, Jiaxing, Zhejiang province, is held in Zurich, Switzerland on April 22. [Photo/WeChat account: phfabu]

The agreement signing ceremony for the construction of Sika Group's factory in the Dushan Port Economic Development Zone in Jiaxing, Zhejiang province, was held at Sika Group's headquarters in Zurich, Switzerland on April 22.

With a total investment of more than $100 million, the 100-mu (6.67-hectare) factory is expected to start construction at the end of 2023 and be put into operation by the end of 2025.

The first-phase production capacity of the factory is expected to reach 99,000 metric tons. It will produce fire-resistant coatings, silicone rubber, floor coatings, adhesives and waterproof materials.

These products will be used for new energy vehicles, and green and low-carbon buildings.

Sika Group is a global company founded in Switzerland in 1910. It has been listed on the Swiss Stock Exchange since 1968 and ranks 18th in market value in Switzerland.

The company has more than 300 factories and marketing organizations in more than 100 countries around the world. Its products are mainly used in construction and industry.