German firm banks on China
By Pan Xiaoyi |
May 29, 2010, Saturday
|
Print Edition
Print Edition
BAYER MaterialScience expects China to be its No. 1 market globally next year and plans to increase its activities in China to consolidate its business in the country.
China is now one of the top three markets for the company, which saw a 30 percent jump in China sales in the first quarter of this year from the pre-crisis level in the fourth quarter in 2008, outperforming the United States and Europe that have yet to recover to the pre-crisis level.
"I am confident China will lead among Bayer MaterialScience's global markets next year," Patrick Thomas, its CEO, said yesterday.
Michael Koenig, president of Bayer MaterialScience in China, said its plants in the country are operating at full capacity and the firm is looking to expand in manufacturing, research and development as well as sales and marketing to support its fast growth in the country.
The firm opened the Bayer AutoCreative Center in Shanghai yesterday to tap the fast growing demand in the domestic automotive industry.
The center will provide solutions for lightweight materials for vehicles, lower energy consumption, fuel efficiency and carbon dioxide emission reduction.
"The center is part of our global auto network. China, as the world's largest consumer and manufacturer of automobiles, plays a crucial role in the sustainability of the industry," Thomas said.
China is now one of the top three markets for the company, which saw a 30 percent jump in China sales in the first quarter of this year from the pre-crisis level in the fourth quarter in 2008, outperforming the United States and Europe that have yet to recover to the pre-crisis level.
"I am confident China will lead among Bayer MaterialScience's global markets next year," Patrick Thomas, its CEO, said yesterday.
Michael Koenig, president of Bayer MaterialScience in China, said its plants in the country are operating at full capacity and the firm is looking to expand in manufacturing, research and development as well as sales and marketing to support its fast growth in the country.
The firm opened the Bayer AutoCreative Center in Shanghai yesterday to tap the fast growing demand in the domestic automotive industry.
The center will provide solutions for lightweight materials for vehicles, lower energy consumption, fuel efficiency and carbon dioxide emission reduction.
"The center is part of our global auto network. China, as the world's largest consumer and manufacturer of automobiles, plays a crucial role in the sustainability of the industry," Thomas said.
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