Lanxess in China Lanxess Targets Sales in Greater China to Exceed EUR 1 Billion in 2012
Lanxess is continuing to focus on the growing Chinese market and is targeting sales of more than EUR 1 billion there in 2012.
Leverkusen, Germany - "Greater China will continue to be a cornerstone of our fast-growing Asian business," said the Chairman of the Board of Management of Lanxess, Axel C. Heitmann, prior to the company’s second Rubber Day China being held in Beijing on December 2. "Our technology-driven products, which enable 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. Since 2005, Lanxess has achieved strong sales growth every year in Greater China, i.e. mainland China, Hong Kong, Taiwan and Macao. In 2010, sales were around EUR 800 million in Greater China, which represents 11 percent of total Group sales. The number of employees has also risen rapidly since 2005, from 580 to 950 at present.
Lanxess is currently represented by all 13 business units at 10 sites in Greater China. The most recent investment projects include the construction of a plant for leather chemicals in Changzhou, the expansion of high-tech plastics production in Wuxi and the launch of a new joint venture for the production and marketing of nitrile rubber in Nantong.