Americhem (Suzhou) Co. Ltd., a global provider of color and additive solutions for polymeric products, has been granted the status of High-Tech Enterprise by the government of the People’s Republic of China. The company will maintain the distinction for the next three years.
“We are proud to have earned this prestigious award,” said Stanley Teoh, vice president and managing director for the Asia Pacific region. “This reflects positively on our people in China who have worked toward this honor for some time.”
Some of the requirements for the High-Tech Enterprise status include that a company has core intellectual property rights in China, conducts research and development (R&D) activities, and maintains that the technical staff be at least 30 percent of the entire organization. R&D staff must total 10 percent and at least 60 percent of the R&D expenses must be incurred in China.
The High-Tech Enterprise status grants the awarded company reduced tax rates. Americhem plans to reinvest their tax savings back into R&D, both internally and externally, through technical collaboration with local universities.
Additionally, Americhem Suzhou has recently been designated as an alternate manufacturing site for Underwriters Laboratories (UL) for the two North American plants of Americhem’s sister company, Infinity LTL Engineered Compounds. This means that the company’s engineered compound products are manufactured in accordance with UL’s requirements. UL provides safety-related certification, validation, testing, inspection, auditing, advising and training services to a wide range of clients including manufacturers.