Lanxess stresses importance of Japan to Asia expansion plans

04 March 2005 14:33  [Source: ICIS news]

LONDON (CNI)--German commodity chemicals and polymers company Lanxess used the inauguration on Friday of its Japanese subsidiary's new headquarters in Tokyo to underline the importance of Japan to its Asia expansion plans.

 

Lanxess, spun off recently from German chemicals and life sciences group Bayer, said Japan was its most important market in Asia.

 

Martin Wienkenhover, Lanxess board member in charge of Asian business, said that this year Lanxess plans to grow by 2-3% this year, in line with the Japanese chemicals market.

 

Japan’s large sales market and its geographic location is what makes the country attractive, he added.

 

In fiscal 2003 Japan contributed about 20% of the company’s total Euro887m ($1.17bn) sales in the Asia Pacific region.

 

The automotive, electronics and tyre industries are key customers, Lanxess said.

By: Hilde Ovrebekk
+44 20 8652 3214

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