(Corrects spelling of executive’s name in second paragraph.)
Clariant AG (CLN), which made its biggest takeover in April, aims to reach sales of 1 billion Swiss francs in China and 800 million francs in India by 2016/2017, Chief Executive Officer Hariolf Kottmann said in Singapore.
Clariant, which opened the global headquarters of its textile chemicals unit in Singapore today, expects the division’s relocation from Switzerland to lead to a “significant improvement” in its margin starting in 2013, Mathias Lutgendorf, a member of the company’s executive committee, said at the press event.
Kottmann has made Asia a central pillar of Clariant’s growth strategy following the 2 billion-euro purchase of catalyst maker Sued-Chemie this year. Expansion in the region contrasts with moves to scale down operations in Switzerland as the company seeks to cut costs, boost competitiveness and follow customers who are relocating to Asia.
To contact the reporter on this story: Weiyi Lim in Singapore at firstname.lastname@example.org
To contact the editor responsible for this story: Lars Klemming at email@example.com