Evonik sees rising demand
Print Edition
GERMANY-BASED specialty chemicals producer Evonik said yesterday it is expanding in China to meet robust demand arising from its industrial upgrading.
China accounts for around 12 percent to Evonik’s global sales and dominates the north Asia Pacific market which accounts for 17 percent of the company’s growth, said Claas-Jürgen Klasen, its president for north Asia Pacific.
Evonik has posted growth “almost across all business sectors in China ranging from coatings to catalysts” over the first three quarters, and it expects to expand further after opening a plant in Shanghai two months ago to localize production of silicon products used in composite materials and paints, said Yin Wei, the company‘s vice president.
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