HOECHST STEPS UP CHINESE BUSINESS

Hoechst is increasing its involvement in the People's Republic of China with a joint venture agreement covering pharmaceutical production, trade and distribution signed with the North China Pharmaceuticals Corporation. NCPC is one of China's largest pharmaceutical manufacturers and is located in Shijiazhuang, near Beijing.

The joint venture, in which Hoechst has a 50% holding, is capitalized at 38 million Deutschemarks ($24 million). The plants planned will enable sterile injection preparations and solid drug forms to be manufactured for the Chinese market. Until the plants' completion early in 1996, NCPC will package selected preparations from the Hoechst range.

In cooperation with other Chinese partners, the Hoechst Group is already engaged in several projects for the production of cigarette filter fibres and crop protection agents in China, with a total investment of around $260 million.