EANS-News: WACKER Opens New Chinese Headquarters in Shanghai
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------
Subtitle: - CEO Staudigl stresses the importance of China as a strategic growth
market and rejects import duties on solar products
- At 1 billion, China represents about one-fifth of WACKER Group sales
- New laboratories for R&D and applications technology strengthen WACKERs
position as a leading supplier of silicone and polymer products in China
Company Information
Shanghai (euro adhoc) - December 14, 2012 - Wacker Chemie AG officially opened
its new company headquarters for the Greater China region (Mainland China and
Taiwan) in Shanghai today. With a large number of guests drawn from industry and
administrative authorities in attendance, Rudolf Staudigl, president & CEO of
the Munich-based chemical group, and Executive Board member Wilhelm Sittenthaler
officially declared the headquarters open. The new Shanghai Center, which
occupies some 10,000 square meters, features offices for marketing, sales and
administrative functions along with numerous laboratories for R&D and
applications technology. It also boasts the latest equipment for WACKER experts
to adapt silicone and polymer products to the specific requirements of their
Chinese customers. Applications range from dry-mix mortars and exterior
insulation and finish systems for construction purposes, to paints and coatings,
through to products for the automotive, cosmetics and textile sectors. In
launching the new research and testing laboratories in collabora¬tion with its
customers, the Munich-based chemical group is seeking to further expand its
technology leadership in high-quality silicone and polymer products for the
Chinese market.
During a press conference in Shanghai on Friday, CEO Staudigl stressed the
strategic importance of China as a growth market for WACKER. "The Greater China
region has evolved into our single most important market. China is the world's
largest chemical market. We expect Chinese demand for high-quality chemical
products to keep rising in the years ahead." Last year, WACKER's roughly 900
employees in China and Taiwan generated sales of EUR1.03 billion, or around
one-fifth of the Group total.
Referring to the ongoing investigations in the USA, Europe and China concerning
the imposition of tariffs on solar products, Staudigl reaffirmed his opposition
to trade barriers. "We were one of the first to speak out against any kind of
protectionism because, in a trade war, there can only be losers," he said. "Low
prices are the reason why solar products have been successful on a global scale.
Consequently, any money that has to be spent on punitive tariffs cannot go
toward research and innovation. That would artificially raise the price of solar
products and slow down the global shift toward renewable energy sources. WACKER
will continue to do all it can to ensure that any contentious issues are
resolved through negotiation, just as German Chancellor Angela Merkel said on a
recent trip to Beijing."
Having operated its own subsidiary in Greater China for 20 years now, WACKER has
greatly expanded its activities in the region over recent years. Investments in
China to date come to around EUR400 million. This figure is set to exceed EUR600
million in the next four years. WACKER has eight sales offices in the most
important economic regions of China, as well as two technical centers and four
production sites. Its Zhangjiagang and Nanjing sites produce silicones,
dispersions and dispersible polymer powders. The plants there are the largest
of their kind in China. To meet strong demand growth from customers, WACKER is
currently doubling its dispersions production capacity in Nanjing to 120,000
metric tons per year. The additional capacity is primarily intended for paints,
coatings and adhesives. WACKER is also building a new polyvinyl acetate (PVAc)
plant there with an annual production capacity of 20,000 metric tons. Both
plants are scheduled to come on stream next year.
Further inquiry note:
Christof Bachmair
Media Relations & Information
Tel.: +49 (0)89 6279 1830
E-Mail: christof.bachmair@wacker.com
end of announcement euro adhoc
--------------------------------------------------------------------------------
company: Wacker Chemie AG
Hanns-Seidel-Platz 4
D-81737 München
phone: +49 (0) 89 6279 01
FAX: +49 (0) 89 6279 1770
mail: info@wacker.com
WWW: http://www.wacker.com
sector: Chemicals
ISIN: DE000WCH8881
indexes: MDAX, CDAX, Prime All Share
stockmarkets: free trade: Hannover, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing: Berlin, regulated dealing/prime standard:
Frankfurt
language: English