ROYAL DSM NV, the world's biggest medicine ingredients maker, plans to boost its China sales 60 percent in five years by building more projects in the world's fastest-growing major economy.
DSM posted sales of 5.02 billion yuan (US$622 million) in China last year, up 13.4 percent from the year before, the company said yesterday.
The robust performance in 2005 strengthened the firm's goal to keep growing in China. The Netherlands-based company is aiming for US$1 billion in sales by 2010.
"DSM China's strong performance is a fundamental pillar of DSM's global vision, which aims to speed up its presence in some strategic emerging markets," said Stefan Sommer, president of DSM China.
China is the biggest emerging market DSM is targeting, he said.
The firm will incorporate its global purchasing in China under its newly established purchasing center in Shanghai. The team of buyers will seek qualified products mainly for European and the US markets.
Higher sales will be generated from local production by expanding projects, the company said.
DSM is in negotiations with the North China Pharmaceutical Group Corp, China's major drugmaker, to invest US$164 million to set up joint ventures to make nutritional and anti-infection products.
DSM's products include vitamins, antibiotics, coatings and structural resins, engineering plastics and fiber intermediates.
