The head of Swiss chemicals producer Clariant said the company would expand capacity in China and warned of “more production shifting away from Europe” because of the continent’s higher energy and labour costs.
Chief executive Conrad Keijzer said Clariant was targeting 14 per cent of its sales coming from China by 2027, up from 10 per cent at present, and that the country would account for more than half of global growth for chemicals over the next five years.
The company has expanded two Chinese plants, which Keijzer said would allow Clariant to produce 70 per cent of the chemicals it sells in the country locally, up from about half.
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