Confidence from within
Real confidence comes from within, and for LANXESS, its market performance relies more on the specialty chemicals company’s ability in innovation, instead of market demand.
Against the background of a sluggish automotive market, for which LANXESS offers light-weight engineering plastics and other products, the company has maintained double-digit growth in the sector this year, Hubert Fink, board member of management at LANXESS, said in Shanghai.
“We are driven by innovation, not by market demand,” Fink said. “We are optimistic about the future growth in the sector because we will introduce more innovative applications.”
The core business of LANXESS is to develop and manufacture chemical intermediates, additives, specialty chemicals and plastics. Its products are widely used in vehicles to enhance safety and reduce weight.
The company announced to invest 250 million euro (US$284.4 million) to strengthen its presence in Asia Pacific region, of which the largest share will go to the Chinese market.