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September 14, 2016

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Lanxess sees high prospects in China

CHEMCIALS giant Lanxess AG sees great opportunities in China as the economy transitions toward a sustainable and stable growth in the “New Normal” economic environment, Matthias Zachert, the German firm’s chairman, said yesterday in Shanghai.

“Our confidence in China stays unchanged, it will stay a major growth region for us as a key, key market,” Zachert said during the media day of the 2016 CPCIC (2016 China Petroleum and Chemical International Conference).

Zachert called Lanxess China development a “true successful story” as revenue more than doubled from 432 million euros (US$485 million) in 2005 to 923 million euros in 2015, accounting for 12 percent of its global revenue.

During the CPCIC, top Chinese oil and chemical companies will form a new global cooperation alliance to seek opportunities in the One Belt One Road regions.

China welcomes multinational firms with unique technologies like Lanxess to work with the alliance to jointly develop overseas markets, said Pang Guanglian, vice secretary general and director of international affairs of CPCIF (China Petroleum and Chemical Industry Federation).


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