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News

2018-12-13

LANXESS launches significant investment program for APAC region

  • Investment of up to EUR 250 million in the next five years
  • China most important market

Dr. Hubert Fink, member of the Board of Management of LANXESS, released the investment plan in Asia-Pacific region.

Shanghai – December 13, 2018 – Specialty chemicals company LANXESS is strengthening its presence in the growth market of Asia with a comprehensive investment program. The company will invest up to EUR 250 million there till 2023. The largest share of the investments will go to China.

 

“Asia and in particular China is a key growth region for LANXESS. We are now underlining our commitment with this major investment package to leverage on our full potential there,” said Hubert Fink, Member of the Board of Management of LANXESS AG.

 

LANXESS will use the sum to further strengthen its footprint in the country. Since 2005, when LANXESS officially started its operations in China, the company has steadily grown its business in terms of asset base and turnover. Today, more than 1,900 employees are working for LANXESS at 13 locations in Greater China. Sales have nearly tripled until 2017 when the company posted record sales of around EUR 1.2 billion there, accounting for approximately 13 percent of global sales.

 

In recent years, China has been pursuing high-quality development and industrial upgrading. LANXESS is supporting this development with its wide product range in areas such as mobility, urbanization, clean water and health.

 

“China is entering into a new phase of development driven by consumer upgrading. We therefore continue to see great growth potential for our specialty chemicals product portfolio here,” said Ming Cheng Chien, President of LANXESS Asia-Pacific Region.

 

Among the products supplied by LANXESS are high-performance plastics for the automotive and electronics industries, flame retardants for application in the automotive and construction industries as well as ion exchange resins and reverse osmosis membranes for the processing and cleaning of water.

 

In Greater China, LANXESS is represented through all of its ten business units. With the acquisition of Chemtura, which was completed in April 2017, LANXESS could expand its platform in Greater China even more – adding 3 sites. Today, LANXESS has 9 production sites, 9 centers for research and development as well as 5 sales offices including the headquarters in Shanghai. More than 1,900 employees are working for LANXESS in China, nearly three times as many as when the company started in 2005. During the 13 years since establishment, LANXESS Greater China has been awarded as the “Top Employer China” for 6 times by Top Employers Institute.

 

 

About LANXESS

LANXESS is a leading specialty chemicals company with sales of EUR 9.7 billion in 2017 and about 19,200 employees in 25 countries. The company is currently represented at 73 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives, specialty chemicals and plastics. LANXESS is listed in the leading sustainability indices Dow Jones Sustainability Index (DJSI World and Europe) and FTSE4Good.

 

LANXESS China

On Jan. 31, 2005, LANXESS AG was initially listed on the Frankfurt Stock Exchange, and its subsidiary LANXESS Chemical (China) Co., Ltd. officially began operations. Today, LANXESS has 17 subsidiaries including 3 joint ventures, 9 production sites as well as 9 R&D centers with about 1,900 employees in Greater China. LANXESS works closely with its local partners to develop market-oriented solutions that meet local market needs.

 

Forward-Looking Statements

This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accept any liability whatsoever arising directly or indirectly from the use of this document.

 

Information for editors:

All LANXESS news releases and accompanying photo, video and audio materials can be found at http://www.lanxess.cn, http://www.weibo.com/lanxess, or LANXESS’ official WeChat account: LANXESS_china

Contact

Yu Fiona

Yu Fiona
Corporate Communications

Phone: +86 21 6109 6666
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