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Linde posts strong China sales
By Fu Chenghao |
September 17, 2009, Thursday
|
Print Edition
Print Edition
GERMAN industrial gas company Linde said sales growth in China remained in double digits despite the global downturn.
"No one is immune to the financial crisis, but in China the impact is smaller," said Steven Fang, the company's China head. "Our growth in China is slower this year but still in double digits."
He said Linde was able to weather the slowdown because its China customers are mainly top industrial firms.
The company, which competes with France's Air Liquide, posted sales growth of 28 percent to 420 million euros (US$616 million) last year in China.
Linde yesterday launched a research and development center in Shanghai's Pudong New Area. It will lead the development of new high-tech industrial gas applications and solutions for China and Asia Pacific. The center joins Linde's two existing research hubs in Germany and the United States.
Linde yesterday also signed several partnership agreements with industrial customers and a university to jointly develop environmentally friendly solutions from gas applications.
Among them, Linde and Tsinghua University agreed to build a pilot plant at a Linde carbon dioxide production facility in Shanghai to provide the design and process basis for the construction of large-scale carbon capture and storage plants. Carbon emissions are a primary cause of climate change.
Fang said Linde has a 9 percent market share in China's industrial gas market, citing a Deutsche Bank report.
Linde has more than 100 plants in China. The company designed Shanghai's first hydrogen refueling station in Anting, Jiading District.
"No one is immune to the financial crisis, but in China the impact is smaller," said Steven Fang, the company's China head. "Our growth in China is slower this year but still in double digits."
He said Linde was able to weather the slowdown because its China customers are mainly top industrial firms.
The company, which competes with France's Air Liquide, posted sales growth of 28 percent to 420 million euros (US$616 million) last year in China.
Linde yesterday launched a research and development center in Shanghai's Pudong New Area. It will lead the development of new high-tech industrial gas applications and solutions for China and Asia Pacific. The center joins Linde's two existing research hubs in Germany and the United States.
Linde yesterday also signed several partnership agreements with industrial customers and a university to jointly develop environmentally friendly solutions from gas applications.
Among them, Linde and Tsinghua University agreed to build a pilot plant at a Linde carbon dioxide production facility in Shanghai to provide the design and process basis for the construction of large-scale carbon capture and storage plants. Carbon emissions are a primary cause of climate change.
Fang said Linde has a 9 percent market share in China's industrial gas market, citing a Deutsche Bank report.
Linde has more than 100 plants in China. The company designed Shanghai's first hydrogen refueling station in Anting, Jiading District.
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