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The MoU was signed by SAFC Hitech President Barry Leese and Moon-Soo Kim,Governor of Gyeonggi Province, in a ceremony held in New York City, New York,on November 2, 2007. The MoU is part of an ongoing program of regionalinvestment by Sigma-Aldrich Corporation. In September 2007, the Companyannounced its intent to invest in a facility at the Wuxi-New District Park(WND) located northwest of Shanghai, China.
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Commenting on the possible expansion of SAFC Hitech's global presence intoSouth Korea, Leese said, "We see South Korea as an important market for SAFCHitech, with a very strong domestic electronics business that represents anexcellent opportunity for us to supply electronic chemicals for use in thesemiconductor market. Gyeonggi Province, in particular, has been extremelyproactive and supportive of our intentions. We look forward to exploring along and mutually beneficial relationship with the region."
SAFC President Frank Wicks added, "As part of the strategic plan SAFC laidout in 2005, we expect to increase our investment in a number of regions,including the Asia-Pacific markets. By exploring investment avenues withSouth Korea, we have the opportunity to accelerate sales growth in theAsia-Pacific region while, at the same time, increasing our capacity andallowing us to better serve our local and global SAFC Hitech customer base."
About SAFC:
SAFC(R) is the custom manufacturing and services group withinSigma-Aldrich that focuses on products and services for high technologyapplications, cell culture products and services for biopharmaceuticalmanufacturing, biochemical production and the manufacturing of complex,multi-step organic synthesis of APIs and key intermediates. SAFC hasmanufacturing facilities around the world dedicated to providing manufacturingservices for companies requiring a reliable partner to produce their custommanufactured materials. SAFC has four focus areas -- SAFC Pharma(TM), SAFCSupply Solutions(R), SAFC Biosciences(TM), and SAFC Hitech(TM) -- and hadannual sales of nearly $500 million in 2006. SAFC is one of the world's 10largest fine chemical businesses. For more information about SAFC, visithttp://www.safcglobal.com.
About SAFC Hitech:
SAFC Hitech provides a unique chemistry service translating applicationunderstanding into performance materials worldwide. Through collaborativepartnerships and an integrated approach from research and development, processdevelopment and scale up to commercial manufacturing, SAFC Hitech invests ininnovation and manufacturing enabling current and future technology needs.Further information can be found at http://www.safchitech.com
About Sigma-Aldrich:
Sigma-Aldrich is a leading Life Science and High Technology company. Ourbiochemical and organic chemical products and kits are used in scientific andgenomic research, biotechnology, pharmaceutical development, the diagnosis ofdisease and as key components in pharmaceutical and other high technologymanufacturing. We have customers in life science companies, university andgovernment institutions, hospitals and in industry. Over one millionscientists and technologists use our products. Sigma-Aldrich operates in 36countries and has 7,800 employees providing excellent service worldwide. Weare committed to accelerating Customers' success through leadership in LifeScience, High Technology and Service. For more information aboutSigma-Aldrich, please visit our award-win
