The story appears on

Page A11

March 23, 2018

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business » Finance

Lanxess’s sales surge 30% in 2017

LANXESS posted a 30 percent surge in its sales in China last year as the German specialty chemicals company rode on the country’s “fast upgrading” in the auto and building markets.

It didn’t unveil specific figures on China’s sales, but said the 30-percent jump in sales propelled China to account for 13 percent of its global sales in 2017. The group reaped 9.66 billion euros (US$11.93 billion) in sales worldwide last year.

Although growth in China’s auto sales fell to 3 percent in 2017 from 13.7 percent in 2016, “its upgrading has brought higher-than-expected profit to us,” said Qian Mingcheng, Lanxess’s chief executive officer for China.

The group’s engineering plastics and synthetic rubbers business also helped its “high growth” in China as these materials are replacing metal in cars to help reduce weight, he said.




 

Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend