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Lanxess reports 4.4% growth in China sales
By Richard Fu |
March 22, 2013, Friday
|
Online Edition
Online Edition
LANXESS, a leading German specialty chemicals maker, said sales in China rose 4.4 percent to 1.035 billion euros (US$1.34 billion) last year.
Chien Ming Cheng, chief executive of Lanxess China, said while emerging markets including China showed slower growth in 2012, China remains a cornerstone of the company's growth strategy, accounting for 11 percent of its global sales.
Lanxess' global sales rose 4 percent to 9.09 billion euros last year, driven by its focus on emerging markets, solid demand for agrochemicals, contributions from acquisitions and its price-before-volume strategy.
The world economy is expected to recover in the second half of this year, Chien told a press briefing today in Shanghai.
Demand for high-performance rubbers remained resilient in China, he said. These rubbers are essential for making fuel-efficient tires.
Potential demand for green tires and light-weight vehicles in China drives the future growth of high-performance rubbers and high-tech thermoplastic materials at Lanxess, he said.
Higher standards imposed by Europe later last year could pose challenges to Chinese tire exporters and increase the demand for high-performance rubbers, he added.
Chien Ming Cheng, chief executive of Lanxess China, said while emerging markets including China showed slower growth in 2012, China remains a cornerstone of the company's growth strategy, accounting for 11 percent of its global sales.
Lanxess' global sales rose 4 percent to 9.09 billion euros last year, driven by its focus on emerging markets, solid demand for agrochemicals, contributions from acquisitions and its price-before-volume strategy.
The world economy is expected to recover in the second half of this year, Chien told a press briefing today in Shanghai.
Demand for high-performance rubbers remained resilient in China, he said. These rubbers are essential for making fuel-efficient tires.
Potential demand for green tires and light-weight vehicles in China drives the future growth of high-performance rubbers and high-tech thermoplastic materials at Lanxess, he said.
Higher standards imposed by Europe later last year could pose challenges to Chinese tire exporters and increase the demand for high-performance rubbers, he added.
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