Evonik RohMax to focus lubes growth in Singapore

29 July 2008 10:15  [Source: ICIS news]

SINGAPORE (ICIS news)--The choice of Singapore as its headquarters will help Evonik RohMax focus on growth in the lubricant additives segment of its Asia-Pacific business, said managing director Dr Dirk Reese in a media briefing on Tuesday.

Among the reasons cited for choosing Singapore as the headquarters for its slated expansion and growth plans were strong intellectual property rights, superior logistics infrastructure and proximity to customers.

“The opening of our new plant and its laboratories represent a key pillar of our expansion plan in Asia-Pacific and reflect our strong commitment to provide our customers locally with a full range of services,” said regional manager Dr Eric Fillod.

“We want to link up with our customers for business and technical marketing and to seek early involvement in their business needs,” he added.

“Evonik RohMax's traditional operating markets are very matured, more than 50 years old. The growth rate [of lube additives] in the US and Europe is very moderate sometimes and even declining,” said Fillod.

He added that the management intends to capture growth in the Asia-Pacific region while holding position in Europe and the US.

Concerns over the recent weakening of the US dollar were also brought up by the management team, who said that its bottom line has taken a hit from the depreciation of the dollar as the company consolidates earnings in euros.

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By: Bohan Loh
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