Chemical maker Huntsman Corp. said Monday that it will spend about $40 million to build a technology center in Shanghai to help meet growing demand from customers across the Asia Pacific region.
The Salt Lake City company said the facility will include machine halls, laboratories and offices for up to 400 people and will replace a nearby center that opened up in 2008.
In addition, part of the existing technology center will be converted into an auditorium and display area, Huntsman said.
Construction is expected to begin in January, with completion expected in mid-2013, the company said.
Huntsman shares fell 33 cents, or 3.2 percent, to $9.93 in morning trading.