WACKER Greater China achieved double-digit growth in 2014

(Xinhua) -- Munich-based WACKER Chemical Group has announced sales of 1.22 billion euros in Greater China in fiscal year 2014, up 14% from the previous year (2013: 1.07 billion euros). This achievement was achieved thanks to China's overall macroeconomic development and WACKER's continued investment in downstream production facilities and local research and development. WACKER expects to continue to grow in the region in the future by further enhancing its innovation capabilities to provide customized solutions to China's local market.
five of Wacker's business units in Greater China contributed to double-digit growth in FY14. As a result of strong market demand, The world's electronic materials and polysilicon business sales growth, strong performance. Of all the chemicals, VAE emulsions (ethylene acetate-ethylene co-polyphur lotions) and silicone elastomers performed best. Technological innovation and newly developed products for the Chinese market have driven sales growth of VAE emulsions. Based on China's continued investment in infrastructure and WACKER's strengths in specialized products, the silicone elastomer business is growing rapidly in technology-intensive industries, including high-speed rail, electronics, power transmission and healthcare.
" China is of strategic importance to WACKER. In 2014, more than a quarter of the Group's sales came from Greater China," said Mr. Lim Bo, President of WACKER Greater China. WACKER believes that rising living standards and environmental demand will further stimulate the market demand for the high quality and environmentally friendly products we supply, and that our business growth in China will continue to lead GDP growth in 2015. "
On March 31, 2015, WACKER's new polyvinyl acetate (PVAc) solid resin production line in Nanjing was put into operation, the largest of its kind in Asia and certified to the highest level of food standards. In October 2014, WACKER added a production line in Zhangjiagang to expand the production capacity of its silicone emulsions, which serve the personal care products sector. In 2015, WACKER will further enhance its production and logistics capabilities. The capacity of the re-dispersable latex powder at WACKER's Nanjing plant will double to 60,000 tons per year by the end of 2015, and the new WACKER Zhangjiagang Logistics Center will be officially opened in the autumn of 2015. In the future, WACKER will continue to expand its downstream production capacity in Zhangjiagang and Nanjing to meet customer demand in the Chinese market.
s investment in China demonstrates our commitment to the local market and provides a solid foundation for our future development in China." Building on a well-developed infrastructure, WACKER Greater China is currently moving from an emphasis growth to a qualitative improvement. In the future, we will further strengthen our research and development capabilities in China and continue to provide customized solutions to key customers," said Mr. Lim Bo, President of WACKER Greater China.
is at the heart of WACKER's development strategy in China. In 2014, WACKER China received four new patent certifications, and the importance of local research and development teams in WACKER's global innovation network has steadily increased. For example, to meet the demand for innovative products and new applications in China and elsevalues, WACKER has established the China Consumer Care Capability Center (5C), reflecting WACKER's continued commitment to the personal care and home care industries. Together with the existing Greater China business team, this well-established research and development technology platform and process specialist will work closely with WACKER's global research and development network to promote local projects in the target market.
2015, WACKER Greater China is expected to continue to grow at a faster rate than China's GDP growth rate by strengthening its research and development capabilities and continuing to provide technical solutions to local customers. China is already the world's largest chemical, photovoltaic and consumer electronics market, and these industries will continue to grow. The PV market is promising in China, with the State Energy Administration announcing in March 2015 that it will add 17.8 KHUs of photovoltaic power this year, providing further growth space for WACKER's polysilicon business. As a partner of many of the top chip manufacturers, WorldTron electronic materials will also usher in expanding market demand. Wacker is confident of seizing market opportunities and maintaining growth momentum, based on the region's huge market potential and growing demand for quality products.