Chemical firm Wacker strengthens presence in China
Global chemical giant Wacker is strengthening its presence in China, highlighting the country's position as the world's premier chemical market and a pivotal player in global economic growth.
Wacker's chief executive Christian Hartel said China's vast developmental prospects will continue to be a focal point for the company.
"China is the world's largest chemical market and an important growth driver for the global economy. The country offers a wide range of development opportunities which we at Wacker intend to leverage continuously," Hartel said at a ceremony held in Shanghai on Wednesday to celebrate the 30th anniversary of Wacker's subsidiary in China.
Christian Hartel, president and CEO of Wacker, makes a speech at a ceremony on the occasion of Wacker China's 30th anniversary.
In its recent advancements, Wacker ramped up new production facilities for dispersions and dispersible polymer powders in Nanjing, Jiangsu Province. In September, it also announced the expansion of several new production lines for manufacturing functional silicone products at its Zhangjiagang site.
"This is our largest single investment since the site went into operation," said Hartel, underscoring the company's commitment to the Chinese market where it has invested almost 1 billion euros (US$1.062 billion) over the past three decades.
Wacker China, contributing to about 30 percent of the group's sales with a turnover of 2.45 billion euros in 2022, employs over 1,700 staff and runs four production sites, three technical centers, and other facilities, including a training academy.
Wacker China's President Alvin Hu reflected on the company's transformative 30-year presence in the country at the ceremony, acknowledging a vast integrated production network and a keen strategic position, especially in rapidly expanding sectors.
Hu mentioned China's escalating shift towards vehicle electrification, indicating an advantageous terrain for Wacker's silicone offerings, which are pivotal for electric-vehicle production and development.
Alvin Hu, president of Wacker China, reviewed the company's 30 year journey in China.
