Clariant’s China strategy achieves new milestone with appointment of Fu Cai Wang as new China President
- Fully regional management structure with profit responsibility implemented
- Clariant continues to invest and further expand its market position
- OneClariant campus to be opened in 2020
Shanghai, October 11, 2018 – Clariant, a world leader in specialty chemicals, today announced the achievement of a new milestone in its dedicated China strategy with the appointment of Fu Cai Wang as its new China President, effective December 1, 2018. In this role, he acts as the Business Unit Head for the China Business of Clariant. Fu Cai Wang joins Clariant from Arkema as Asia Pacific Regional Group President Fluorochemicals Business Unit and President of Arkema Hebei Casda Biomaterials Co. Ltd.
The appointment of Fu Cai Wang completes the “Local Empowerment” aspect of the company’s dedicated 5 Locals" (5Ls) strategic framework that was set up to progress Clariant's commitment to becoming a true “China Insider” and putting China “from fringe to core”. As part of this process, strategic positions across the various businesses in China have increasingly been filled with Chinese top managers, who also have full profit and loss responsibility. By doing so, Clariant is convinced that an enhanced local perspective and business mindset is achieved, which better positions the company to seize the growth opportunities in China.
“We are very proud to have achieved another milestone of our dedicated China strategy. We now have an even stronger and more localized leadership team in place in China and are excited to leverage their knowledge and expertise and capture new growth opportunities”, said Christian Kohlpaintner, member of Clariant’s Executive Committee. “Our strategy is based on a solid framework and has already led to improved results. In the past year, for example, we were able to increase our sales in China by 13% over the previous year and record increased profitability. We are fully on track to deliver on our strategic target of doubling 2015 sales by the year 2021 in China.”
In addition to “Local Empowerment” Clariant has also made significant achievements on the other elements of its China strategy, being Insight, Competitiveness, Innovation and Partnerships. Over the past years, the company has expanded its Additives and Masterbatches capacities and invested in new assets to meet growing local demand for sustainable and innovative products and solutions.
Another boost is expected to come from the OneClariant campus, an integrated facility being built in Shanghai that will feature Clariant's new Greater China Regional Headquarters and a new regional Innovation Center, which is set to open in 2020.
Furthermore, Clariant is proactively driving sustainability and innovation in the Chinese industry, e.g. by creating a CleanTech Award for young scientists and a close collaboration with the China Petroleum & Chemical Industry Federation (CPCIF). Since this year, Clariant sells its products and services through its first online flagship store in Alibaba 1688.com, to better serve small and medium-sized businesses in China.
Christian Kohlpaintner: “With our manifold initiatives and the consequent implementation of our specific China governance model, we give China a clear voice at the table, which is heard not only within Clariant but also appreciated in our key markets.”