Altana Invests in Further Growth in China
Trends and Events
- 42 Downloads
The Altana Group is significantly expanding its presence in China. In April, the Actega division opened a new laboratory building for coatings and sealants at its production site in Foshan. Elantas commissioned a new plant for wire enamels in Tongling, while BYK signed a contract for the purchase of a site for developing and manufacturing chemical additives in Shanghai. With these projects, the Group is investing a total of more than € 30 million in the further growth of its China business. “With our investment initiative, we are aiming to further increase our presence in Asia with emphasis on China and take advantage of the enormous market potential here,” said Dr. Matthias L. Wolfgruber, CEO of Altana AG. In 2013, Altana achieved its highest growth rate in this region in China. The Asian region as a whole grew by seven percent, driven primarily by the increased demand from China. Currently, Altana operates eight subsidiaries, five production facilities and ten laboratories in China. With 450 employees here, the company generated sales of around € 290 million, or 16 percent of its entire global business, in 2013.
© Springer Fachmedien Wiesbaden 2014