Speciality Chemicals Lanxess Sells 32 Percent More Speciality Chemicals in India
Lanxess' Indian subsidiary Lanxess India was able to boost its speciality chemicals sales to 1.46 billion Rupees (around US $ 28.5 million). Especially the growing automotive industry with its high demand for speciality chemicals stimulated this development.
Mumbai/India – In India, Lanxess sales grew from 1 billion Rupees in 2010 to 1.46 billion Rupees (around US $ 28.5 million) in 2011, reflecting a growth of around 32.3 per cent. On this occasion, Venkatesh Sankaran, Executive Director and Chief Financial Officer, Lanxess India said, “We are delighted that we are achieving a consistently good growth in India, despite uncertain global economic conditions. In the Performance Polymers Segment, business units, Performance Butadiene Rubbers (PBR) has emerged the strongest, followed by Technical Rubber Products (TRP). High growth was also seen for Semi crystalline products (SCP). This is a very healthy indicator of the growing user industries such as automobiles, tires, electrical and electronics that has kept the demand buoyant. The Performance Chemicals segment, led by Rubber Chemicals (RUC) also grew remarkably well. This segment caters to a range of industries like leather, agro chemicals, pharmaceuticals, paints and coatings, industrial applications among others.”
Indian Automotive Industry has High Demand for Speciality Chemicals
The growth of business units PBR, SCP and RUC confirms that the automobile industry in India continues to grow and will demand better performance and technology as the focus on fuel efficiency, safety and comfort increases.
Lanxess Optimistic to Profit From Indian Economic Development
Dr. Joerg Strassburger, Managing Director and Country Representative added, “Our global network, focused strategy and the growing market in India are contributing to our year-on-year success story here in India. We are optimistic that we will continue to post good rates of growth in an environment of opportunity.”