DuPont to open India facility by 2008 |
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Thu, 01 Feb 2007 20:28
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WILIMINGTON, Del. (AFX) - DuPont said Thursday it plans on building a research and development center in India at a cost of about $22.5 million.The company said it signed a memorandum of understanding with ICICI Knowledge Park in Hyderabad, India, for a long-term lease that will give the company 15 acres of land. DuPont said it expects to break ground in March and expects the facility to be fully operational by early 2008.Research at the site will focus on 'integrated science,' the company said, involving the addition of biology to traditional chemistry and materials science. The focus will be on molecular biology, bioinformatics and polymer synthesis. The facility will also house research programs for numerous DuPont operations: Pioneer Hi-Bred International Inc.; Crop Protection, Chemical Solutions Enterprise; Electronic Technologies; Surfaces; Building Innovations; Titanium Technologies and Performance Coatings.Shares of DuPont rose $1, or 2 percent, to $50.56 on the New York Stock Exchange in afternoon trading. The stock has traded between $38.52 and $51 over the last 52 weeks.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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DuPont plans to invest over 22.5 mln usd in new R&D centre in Hyderabad, India 