DSM banks on high-growth economies
By Richard Fu |
October 28, 2010, Thursday
|
Print Edition
Print Edition
DUTCH chemical company Royal DSM NV plans to double its sales in China in five years as it seeks to accelerate expansion in high growth economies.
DSM, which produces artificial fibers for electronic firms and enzymes for food makers, expects China sales to exceed US$3 billion by 2015, more than doubling an estimated US$1.5 billion this year.
The sales target will be supported by capital spending of US$1 billion in China during the five years, Stephan Tanda, a DSM managing board member, told a briefing in Shanghai yesterday.
DSM will invest in new innovation facilities and production plants, including a new joint venture production line for caprolactam with partner Sinopec. Caprolactam is the precursor to Nylon 6, which is widely used in fibers and plastics.
DSM's China sales target is mirrored by the growth plans of other chemical companies including Akzo Nobel NV, the world's biggest paint maker. Akzo, the Dutch firm which makes Dulux paint, said in July it is seeking to double sales from China to US$3 billion by 2015.
Tanda said sales from high growth economies, such as China and India, will account for 50 percent of DSM's total net sales by 2015, from 32 percent now, citing a strategy update unveiled last month.
DSM, which produces artificial fibers for electronic firms and enzymes for food makers, expects China sales to exceed US$3 billion by 2015, more than doubling an estimated US$1.5 billion this year.
The sales target will be supported by capital spending of US$1 billion in China during the five years, Stephan Tanda, a DSM managing board member, told a briefing in Shanghai yesterday.
DSM will invest in new innovation facilities and production plants, including a new joint venture production line for caprolactam with partner Sinopec. Caprolactam is the precursor to Nylon 6, which is widely used in fibers and plastics.
DSM's China sales target is mirrored by the growth plans of other chemical companies including Akzo Nobel NV, the world's biggest paint maker. Akzo, the Dutch firm which makes Dulux paint, said in July it is seeking to double sales from China to US$3 billion by 2015.
Tanda said sales from high growth economies, such as China and India, will account for 50 percent of DSM's total net sales by 2015, from 32 percent now, citing a strategy update unveiled last month.
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