Specialty chemical company Lanxess's strategy to follow trends in China, including the government's push for higher quality, low-carbon sustainable development, helped the company achieve 30% sales growth in the country last year. The Chinese market accounted for 13% of global sales for Lanxess in 2017, and it anticipates China will provide at least 20% within 10 years. Lanxess has recently invested 472 million into constructing a high-performance plastics plant in Changzhou to cater for the automotive and electronics sector.
Specialty chemical company Lanxess's strategy to follow trends in China, including the government's push for higher quality, low-carbon sustainable development, helped the company achieve 30% sales growth in the country last year. The Chinese market accounted for 13% of global sales for Lanxess in 2017, and it anticipates China will provide at least 20% within 10 years. Lanxess has recently invested €20m into constructing a high-performance plastics plant in Changzhou to cater for the automotive and electronics sector.