Lanxess’ sales rise

Source: Xinhua | 2017-03-24

GERMAN chemicals producer Lanxess said yesterday that sales in China rose 6.5 percent to US$1.1 billion last year from a year ago as it tapped growth in the country’s automobile and property sectors. 

China contributed 13 percent to the company’s global sales of 7.7 billion euros (US$8.3 billion) last year, with “tires, plastics for cars and car and building paints selling well in this country,” said Qian Mingcheng, Lanxess’ CEO for China. The company expects stable sales growth in China this year, which will be bolstered by the country’s “6.5 percent growth target for its gross domestic product and its manufacturing upgrading strategy,” Qian said.