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Lanxess garden furniture sees double-digit growth in China sales in Q3
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Lanxess sees double-digit growth in China sales in Q3Published: 15 Nov 2009 20:26:33 PST

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Nov. 16, 2009 (China Knowledge) – Lanxess AG, a global player in the fields of chemicals, plastics and rubber, said Thursday that its sales in the Greater China region increased 21% year on year to EUR 172 million in the third quarter of this year, due to the ongoing boom in the construction business.

The China sales accounted for 12.5% of the company’s global sales.

Martin Kraemer, CEO of Lanxess China, said Tuesday that the company is optimistic about sales in China in the coming year as it expects its 2009 investments to contribute to its business next year.

Kraemer spoke at the ground-breaking ceremony of a new facility in Jinshan District, Shanghai. The new plant, which will be able to produce 10,000 metric tons of inorganic pigments per year, is expected to begin production in the fourth quarter of 2010.

In May 2009, Lanxess launched a second phase of expansion at its rubber R&D center in Qingdao, Shandong Province, as part of its strategy to increase profits in Asia through research, according to an earlier report from China Knowledge.

In 2008, Lanxess’ sales revenue in Greater China increased more than 15% from a year earlier to EUR 500 million.

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