China’s Wanhua Chemical named ICIS Company of the Year

18 September 2018 13:30 Source:ICIS News

LONDON and NEW YORK (ICIS)--China-based Wanhua Chemical has been named the ICIS Company of the Year, based on 2017 financial metrics.

The ICIS Company of the Year analysis is based on year-on-year growth in sales, profits and margins for the leading global chemical producers, also taking into account the absolute level of returns at the operating and at the net level relative to sales and total assets.

“We congratulate Wanhua Chemical, the first China-based company to receive this accolade. With strong profitability in polyurethanes intermediates, the company has been able to buck the negative trend in the overall Chinese equity market,” said Joseph Chang, global editor of ICIS Chemical Business.

“The company has been growing fast and has ambitious plans to increase production in China and the US. In 2017, Wanhua produced sales growth of 73% to $8.01bn while operating profits of $2.61bn were up by 200%. Net profits rose significantly and the company’s returns on sales and assets were much higher,” said Nigel Davis, ICIS Insight editor.

Wanhua Chemical CEO and chairman, Liao Zengtai, said: "It’s a great honour to be awarded Company of the Year by ICIS which is a great confirmation of our technology, service, innovation and production - our entire 12,000 employees are thrilled by this news. Wanhua Chemical will continue to focus on specialisation while providing our shareholders with more value as well as offering high-quality and competitive products for our customers."

The ICIS Company of the Year is the 3rd part in the ICIS Top 100 Chemical Companies series, which comprises the Top 100 listing as Part 1 published in the 31 August issue of ICIS Chemical Business magazine, and the Regional Leaders as Part 2 published in the 7 September issue.

Click here to download the ICIS Top 100 Chemical Companies listing, along with the ICIS Company of the Year article, and the Regional Leaders.

By Staff Reporter