DuPont says 2011 Asia-Pacific sales to grow 20% amid rising populations
DuPont’s East Asia president Carl J. Lukach told investors on Monday at the CLSA Asia Forum that his company is on track to generate approximately 20% sales growth this year in the Asia-Pacific region, up from 2010 revenues of $7.3 billion.
Robust growth in Asia Pacific has been led by electronics, especially products in solar panels and electronic devices, performance polymers for the automotive industry, titanium dioxide, packaging polymers, crop protection and seeds, according to the company.
"We are addressing the broader food, energy and protection challenges generated by dramatic global population growth," Lukach said.
"DuPont strives to advance the boundaries of knowledge in materials, biology, chemistry and engineering. By combining these disciplines across markets and regions, we can create new innovations that address the key unmet needs of customers, wherever they may be."
Lukach said new product and market innovations in China, India, Japan and ASEAN are driven by macro-economic factors and demographic shifts, especially a growing middle class in the region.
He also said DuPont's commitment to science-powered innovation and collaboration is reflected in four new innovation centers that opened this year in Korea, Taiwan, Thailand and India.
The innovation centers foster an exchange of ideas and real-time collaboration between scientists and customers, with the goal of creating more innovative solutions and increasing the speed of innovation, he said.
"Growth and collaboration in Asia is not new to DuPont,” Lukach said. “We have been operating in various parts of the region since the early 1900s, when we first established our operations in China.
“In fact, Asia accounted for approximately one quarter of DuPont's 2010 revenues. We're confident our strategy is working in Asia Pacific and we are committed to delivering superior revenue growth and continued innovation in the future."
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