Clariant's sales to jump 30% in 2010
By Richard Fu |
October 21, 2010, Thursday
|
Print Edition
Print Edition
SWISS specialty chemical company Clariant said China sales will jump 30 percent this year on the robust expansion in the Chinese economy.
CEO Hariolf Kottmann said the expected strong growth is also due partly to a relatively low base a year ago in the aftermath of the global financial crisis.
He made the remarks in an interview yesterday in Shanghai after unveiling the company's new China headquarters near the Hongqiao transportation hub.
China accounts for about eight percent of the company's sales which totaled 6.6 billion Swiss francs (US$6.8 billion) in 2009, he said, declining to be more specific. Global sales are still about 8 percent behind the levels seen in 2007-08, and it will take another one to two years for the company to return to the boom levels prior to the economic downturn, Kottmann said.
"That means we still have room for improvement," he said, adding second-half growth will be slower than that of the first half.
Kottmann said Clariant will continue to strengthen its footprint in the nation, which he preferred to call a "core growth market" rather than an "emerging market". Clariant would have invested 150 million Swiss francs in China by mid-2011.
CEO Hariolf Kottmann said the expected strong growth is also due partly to a relatively low base a year ago in the aftermath of the global financial crisis.
He made the remarks in an interview yesterday in Shanghai after unveiling the company's new China headquarters near the Hongqiao transportation hub.
China accounts for about eight percent of the company's sales which totaled 6.6 billion Swiss francs (US$6.8 billion) in 2009, he said, declining to be more specific. Global sales are still about 8 percent behind the levels seen in 2007-08, and it will take another one to two years for the company to return to the boom levels prior to the economic downturn, Kottmann said.
"That means we still have room for improvement," he said, adding second-half growth will be slower than that of the first half.
Kottmann said Clariant will continue to strengthen its footprint in the nation, which he preferred to call a "core growth market" rather than an "emerging market". Clariant would have invested 150 million Swiss francs in China by mid-2011.
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