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On November 28, LANXESS announced plans to establish an application development center in the Asia-Pacific region in Shanghai, and announced a memorandum of cooperation signed with Shanghai Chemical Industry Park in September this year to reserve land for the construction of an integrated production base
.
Investment focus on China
Qian Mingcheng, president of LANXESS Asia Pacific, said that this move fully demonstrates the company's firm commitment to high-quality development in China
.
Qian Mingcheng believes that the establishment of an application development center by LANXESS in Shanghai is based on the research and judgment that the Chinese market demand is gradually shifting to high value-added products and the demand for localized product brands continues to increase
.
He said that the company has a detailed plan for how to advance the construction of the center
.
Adhere to sustainable development
Chang Mutian, Chairman of the Board of Management of LANXESS Group, said that LANXESS is very concerned about energy utilization technology
.
LANXESS has set a long-term goal of climate neutrality by 2040
.
Chang Mutian said that to achieve this goal, LANXESS has three pillars of strategy
.
"Of course, the company will also reduce carbon emissions through industrial transformation, such as abandoning the production of some chemicals
.
Target important market segments
Despite the unfavourable global economic environment, LANXESS delivered solid results in the third quarter of 2019
.
Satisfactory financial performance underpins the investment plan
.
According to LANXESS’s third-quarter financial report, while the group once again achieved stable operating performance, the profit of conventional business in Greater China reached double-digit growth, and the business of flame retardants, additives, water purification products and biosafety products was particularly strong
.
"The stable positioning strategy has once again proved the value of the enterprise, enabling LANXESS to keep running on the right track during the economic turbulence
.
" Chang Mutian said
.
Chang Mutian believes that China has become the world's largest chemical market, and by 2030, it will account for nearly 50% of all global chemical sales
.
In the next few years, China will become the largest chemical market for LANXESS and occupy an increasingly important position in the global market of LANXESS
.
Sales in the Greater China market will definitely have better growth, which will be higher than the average growth level of the overall company
.
Chang Mutian took the automobile market as an example to illustrate the market's attractiveness to LANXESS
.
He said: "Although China's total car production fell to about 25 million for the first time in 2019, it is still the largest car production in the world
.
There is no doubt that such a large car production combined with government support for electric vehicles will definitely It will drive the higher-tech electric mobility market to strengthen
.
”
In addition, the electrical and electronics industry will become even more important in the next 10 years
.
LANXESS's new factory in Changzhou officially started production in September this year, producing high-tech plastics for new electric vehicles
.
This is a concrete action by LANXESS to be optimistic about the Chinese market
.
Chang Mutian said that LANXESS will continue to increase investment in lightweight technology in China
.
In the next few months, the company will further expand its production capacity to ensure that it can meet the demand for high-tech and lightweight products in the Chinese market
.
