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November 12, 2009

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Lanxess China sales seen to rise

LANXESS AG, a German specialty chemicals maker, said yesterday that sales in China were expected to grow by double digits in the third quarter and continue to expand next year, driven by the ongoing boom in the construction business.

"We saw the demand picked up this year and we are optimistic about the coming year as we expect our investment this year will come into operation and contribute to our business next year," said Martin Kraemer, chief executive officer of Lanxess in China. But the firm didn't release any specific sales figures.

Kraemer made the remark at the ground-breaking ceremony of a new facility with an annual capacity of producing 10,000 metric tons of inorganic pigments. The site in Jinshan District in Shanghai is set to start production in the fourth quarter of 2010.

The Shanghai plant will help the firm's business make profit from the Asian market, particularly in China, said Wolfgang Oehlert, a vice president of the company.


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