2011-12-02

LANXESS: Sales in China expected to exceed EUR 1 billion for the first time in 2012

 

Beijing, December 2, 2011 – Specialty chemicals company LANXESS is continuing to focus on the growing Chinese market and is on track to achieve sales of more than EUR 1 billion there in fiscal 2012. "China will continue to be a cornerstone of our fast-growing Asian business," said LANXESS CEO Axel C. Heitmann prior to the second Rubber Day China, which is held in Beijing on December 2. "Our technology-driven products, which facilitate sustainable mobility, will play a major part in achieving this sales target."

 

China has been a particular focus of LANXESS' global growth strategy ever since the group was founded. In fiscal 2010, sales rose to roughly EUR 801 million in Greater China, which represents 11 percent of total group sales. The company presently has about 1,000 employees in Greater China.


 
LANXESS is currently represented in Greater Chin all its 13 business units. The most recent investment projects include the construction of a plant for leather chemicals in Changzhou (Jiangsu province), the expansion of high-tech plastics production in Wuxi and the launch of a new joint venture for the production of NBR rubber in conjunction with Taiwan-based TSRC. Production, which is aimed to serve the Chinese market, is set to begin in the first half of 2012 with an annual capacity of 30,000 metric tons.

 


LANXESS is a leading specialty chemicals company with sales of EUR 7.1 billion in 2010 and currently around 16,100 employees in 30 countries. The company is at present represented at 47 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals. LANXESS is a member of the leading sustainable indices Dow Jones Sustainability Index (DJSI) World and FTSE4Good.

 

Forward-Looking Statements
This news release may contain forward-looking statements based on current assumptions and forecasts made by LANXESS AG management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Information for editors:

All LANXESS news releases and accompanying photo, video and audio material can be found at http://www.lanxess.cn.

Information on chemical products from LANXESS can also be found in our Web Magazine at http://webmagazine.lanxess.cn.


Contact

Charlene Pan

Charlene Pan
Corporate Communications

LANXESS Chemical (China) Company Limited

6F, 5 Corporate Avenue

150 Hu Bin Road, Huangpu District

200021 Shanghai

China, CN

Phone: +86 21 6109 6716

Fax: +86 21 6109 6717

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