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 Euro 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 Euro 1.2 billion there, accounting for approximately 13% 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.