Acquisitions and investments

In 2011 we made several acquisitions and significant investments:

• In Decorative Paints we have entered into a partnership in China with Quangxi CAVA Titanium Industry Co. Ltd. to help ensure supply of titanium dioxide (TiO₂ ). In addition, we are investing €110 million in a replacement manufacturing facility in the North East of England.
  
  
• In Performance Coatings, the acquisition of coatings manufacturer Schramm Holding AG closed early October, 2011. This acquisition will enable us to strengthen our global leadership position in specialty plastic coatings. We are also investing €60 million to increase the production capacity of our Automotive and Aerospace Coatings business in China to meet rising demand.
  
  
• In Specialty Chemicals, we have acquired Boxing Oleochemicals in January 2012. Boxing is the leading supplier of nitrile amines and derivatives in China and throughout Asia. We are investing €170 million in two new facilities being built in Brazil to supply pulp mills, one of them being the world’s largest.
  We are also investing €45 million in Ningbo, China and €140 million to convert our chlorine plant in Frankfurt, Germany, to membrane electrolysis technology.