In the next 5 years, nearly 250 million euros will be invested
China is the most important market
December 13, 2018, Shanghai— — Lanxess, a specialty chemicals company, held the 2018 press conference of “Enhancing Quality and Pursuing Progress” in Shanghai today, announcing that it will launch a comprehensive investment project to strengthen its influence in Asian growth markets. The company will invest approximately 250 million euros in Asia by 2023, most of which will be invested in the Chinese market.
“For LANXESS, Asia, especially China, is a key market for business growth. With this major investment package, we will work even harder to realize our full potential.” Member of the Board of Directors of LANXESS Group Dr. Hubert Fink said.
LANXESS will use the funds to strengthen its presence in China. Since the company was officially established in 2005, the business volume has maintained a steady growth, and the production base and turnover have continued to expand. Today, LANXESS has more than 1,900 employees in 13 cities in Greater China. As of 2017, the sales of LANXESS Greater China nearly tripled compared with 2005, reaching about 1.2 billion euros, accounting for about 13% of the global total sales.
In recent years, China has been pursuing high-quality development and industrial upgrading. LANXESS actively supports China’s development through a series of products in the field of motorization, urbanization, clean water and health.
“Driven by consumption upgrades, the Chinese market is entering a new stage of development. Therefore, LANXESS’ specialty chemicals portfolio will still have great potential for continued growth.” said Qian Mingcheng, President of LANXESS Asia Pacific.
LANXESS’ products include high-performance plastics for the automotive and electronics industries, flame retardants for the automotive and construction industries, as well as ion exchange resins and reverse osmosis membranes for the water treatment and water purification industry.
All 10 business units of LANXESS have entered the Greater China region. After the acquisition of Chemtura in April 2017, LANXESS further expanded its presence in the region by adding three new production sites. Today, LANXESS China has 9 production bases, 9 R&D centers and 5 offices (including the Shanghai headquarters), with more than 1,900 employees, three times the number of employees when the company was established in 2005. Since its establishment 13 years ago, LANXESS China has obtained the “Top Employers in China” certification issued by the Global Top Employers Institute (Top Employers Institute) six times.
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