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Lanxess taking the lead in mid-sized markets
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THE G20 Hangzhou Summit, held on September 4 and 5, was the first G20 meeting China ever hosted. Next year, the summit will move to Hamburg, Germany.
In Hangzhou, G20 leaders reached a consensus on pursuing innovative, invigorated, interconnected and inclusive economic growth with innovation and cooperation as the main drivers of growth. Lanxess, a specialty chemicals company, gives full support to that view.
A spin-off from Bayer, LanxESS carried out swift realignment in 2004 and switched to growth mode, becoming a leading specialty chemicals supplier within a decade with sales reaching 7.9 billion euro (US$8.9 billion) last year. The company now has about 16,700 employees in 29 countries and regions and is represented at 52 production sites worldwide.
In spite of challenges posted by the “new normal” of the world economy, Lanxesshas become more competitive in the market thanks to its business strategy that targets medium-sized markets and growth regions of North America, China and Southeast Asia. Lanxessrecently acquired Chemours’ clean and disinfect business.
China has the world’s largest middle class but only half of its 1.4 billion population lives in cities and towns. China and Lanxessmake a perfect match to promote green mobility, urbanization and water treatment. The company is proud of its eco-friendly production technology and tailor-made products from advanced intermediates, performance chemicals, high-performance materials, and synthetic rubber, to meet the needs of Chinese customers.
Lanxesshas been expanding its presence in China since the company was founded. It now has 11 subsidiaries, including three joint ventures, and eight R&D centers in the country. Its Chinese employees now exceed 1,700. The company added three factories in China in the past three years.
Lanxesspays great attention to product research and development, but the chemical industry is so developed that returns from input in research are diminishing. Lanxessis carefully allocating its R&D budget with more emphasis on system optimization and development of new applications. Last year, the company spent 130 million euro on R&D projects. It now owns 1,060 patent families, involving 6,850 patent applications. More than 220 R&D projects are in the pipeline.
Economic sustainability is impossible without the right approach to balance human needs and environmental impacts. Sustainable development is the guiding principle of Lanxess’ corporate strategy. The company operates some of the cleanest, most energy-efficient chemical plants in the world.
This month, Lanxessappeared in Dow Jones Sustainability Index (DJSI) for the sixth time as a result of its continued effort to innovate and to save the environment. The company has set a new climate change target after fulfilling last year’s goals. It aims to reduce greenhouse gas emissions by 25 percent in 2025.
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