14 June 2010 15:06 [Source: ICIS news]
LEVERKUSEN, Germany (ICIS news)--China is set to become Bayer MaterialScience's largest market this year, the German major said late on Friday.
Greater China - which includes mainland China, Hong Kong, Macau and Taiwan - contributed around a third of the business' global sales growth in the first quarter (Q1) of the year compared with the same period in 2009, CEO Patrick Thomas said, speaking at a Pre-K plastics conference in ?xml:namespace>
Three zones dominate the firm's sales, said Thomas. The
All three zones have clearly grown, but the geographical distribution of sales has shifted, said Thomas.
Whereas Bayer's sales in North America and Latin America/Africa/Middle East have been stable since 2009 at 20% and 13% out of overall sales respectively,
"From 2004-2008 we saw only minor changes in the percentage of our sales from different parts of the world - the world was pretty much growing in harmony," said Thomas. "As we came out of the crisis in 2009, Europe had started to shrink, while
"An interesting perspective on how the crisis has affected us is that it hasn't impacted our innovation, but it has impacted the entire geography of our business," he added.
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