01 November 2011 10:02 [Source: ICIS news]
SINGAPORE (ICIS)--Clariant is expected to more than double revenues from its businesses in China and India by 2015-2016, from sales figures seen in 2010, as the firm continues to invest heavily in high-growth markets, Hariolf Kottmann, the CEO of the Swiss specialty chemicals maker, said on Tuesday.
Revenues in India are expected to grow to around Swiss franc (Swfr) 700m (€504m, $609m) by 2015-2016, from about Swfr250m in 2010 on the back of solid growth from the firm’s domestic pigments, textiles and leather businesses, Kottmann said.
Sales from China, meanwhile, are expected to more than double from 2010 to about Swfr1bn by 2015-2016, he said. Sales figures from China in 2010 were not immediately available.
“This is organic growth including smaller acquisitions,” Kottman said.
Clariant has invested heavily in the Asia-Pacific region over the last five years, with investment in China alone reaching over €200m ($278m), according to the firm.
The company, however, has no acquisition plans in China currently, according to Kottman.
Clariant’s yearly sales in the Asia-Pacific are expected to grow to about 30% of its overall revenues, from around 22% currently, in 2016, he said.
“Including markets in Latin America and southeast Asia, revenues from outside the EU and the US will make up more than 50% of overall sales [by 2015-2016],” Kottman said.
Sales outside the US and the EU make up around 42-43% of total revenues, according to Kottman.
“Expanding Clariant’s business in the fast-growing Asian region is an important pillar in our profitable growth strategy and a strong commitment to serving our customers and markets,” he said.
Kottman was speaking on the sidelines of the inauguration ceremony for Clariant’s new global headquarters for its textile chemicals business unit in Singapore on Tuesday.
Meanwhile, the company on Tuesday also held an inauguration ceremony for its wholly owned 50,000 tonne/year ethoxylation unit at Daya Bay in China’s Guangdong province.
The plant started commercial production in June and is not running at full capacity currently, according to Kottman.
“The increase in capacity utilisation is going very well but the plant is not running at full capacity,” he added.
The Daya Bay plant is Clariant’s first ethoxylation unit in Asia and is operated under its industrial and consumer specialties business unit.
($1 = €0.72, $1 = Swfr0.87)
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