CHINAPLAS '12: Evonik to further focus on developing Asia market

18 April 2012 14:49  [Source: ICIS news]

SHANGHAI (ICIS)--Evonik Industries will focus on further development in the Asian market with more expansion planned, senior executives at the Germany-based specialty chemicals producer said on Wednesday.

Evonik is aiming to double Asia sales to €4bn ($5.3bn) from 2010 to 2015 while generating 30% of Evonik’s revenue in Asia by 2020, Dahai Yu, a member of the company's executive board, told delegates at the 2012 Chinaplas exhibition in Shanghai.

Meanwhile, the company plans to achieve 60% of its production volume in from Asia by 2015.

Gregor Hetzke, head of performance polymers at Evonik, said the firm plans to expand its 60,000 tonne/year polymethyl methacrylate (PMMA) facility to 85,000 tonnes/year in Taichung, Taiwan. It is expected to start commercial operation later this year, he said

Evonik is also planning to build a new 20,000 tonne/year polyamide 12 (or nylon 12) plant in Asia, which is scheduled to start up in 2014, Hetzke, without disclosing the exact location.

Additionally, Evonik is in the process of expanding its Research & Development (R&D) centre in Shanghai: “It is the third phase of expansion work, which will be invested with €20m,” said Yu.

Chinaplas 2012 runs from 18–21 April.

($1 = €0.76)

By: Dolly Wu
+65 6780 4359

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