21 December 2012 06:23 [Source: ICIS news]
SINGAPORE (ICIS)--Germany's specialty chemicals maker LANXESS said on Friday it has opened an office in Chengdu in an apparent move to strengthen its marketing position in the western region of China.
“Chengdu, as one of the most important economic and transportation centres in western China, provides a good gateway to the vast western market,” said Martin Kraemer, CEO of LANXESS Greater China.
The western region is becoming a new engine for China’s economic growth with double-digit expansion in the past few years. And the growth is expected to remain high in the next decade.
Western China is expected to be the new growth momentum for the auto industry as well and major auto makers and auto parts companies have already moved to invest in the region to build plants, industry sources said.
Chengdu is targeting production capability of 1m cars by 2015 and 1.25m cars by 2020.
LANXESS serves a wide range of industries such as tires, auto components, construction, plastics and water treatment.
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