Evonik expands Singapore footprint even as trade war bites into growth

THE trade conflict between the United States and China has led to slower growth for Germany-based chemicals giant Evonik Industries, a senior executive said.

But executive board chairman Christian Kullmann still called business growth levels above economic expansion “a must” at the launch of the company’s new specialty chemicals plant in Singapore on Tuesday morning.

Despite cooling in the Chinese market’s automotive and construction industries, business segments such as healthcare still see “good and steady growth”, he noted.

“We consider Singapore our gateway to extend and expand our businesses, our growth, in the South Asian region,” Mr Kullmann added, while noting a target of “GDP-plus” business growth.

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