Companies

Dutch health firm eyes expansion in China

(Xinhua)
Updated: 2011-02-24 11:08

AMSTERDAM - Royal DSM is expecting to further expand its business with China in 2011, said the boss of the Dutch life sciences and material sciences company.

"In the coming years, we want to still double the sales in China," DSM CEO Feike Sijbesma told Xinhua Wednesday, stressing that China is a "very important" market for DSM.

According to DSM's annual report, sales in China reached $1.6 billion in 2010, up 37 percent from the previous year and a new record for the company.

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Recalling the company's $500 million sales in China back in 2005, the CEO is ambitious to bring the figure to $3 billion in China in 2015.

DSM, which has transformed from a chemical company to a life sciences and material sciences company, reported a net profit of $693 million in 2010, 50 percent higher than in 2009.

"Now we want to grow this company toward the future. Find the high growth economies, like China, where we want to grow, with innovation, new energies, new materials, biomedical and etc," Sijbesma said.

"China is changing very rapidly, transforming from the world's manufacturing base into one of the world's leading economies with the highest growth rates and with innovation playing an increasing role."

"China is leaping forward (faster) than many countries in the world in embracing alternative energy, like wind energy, solar energy, biofuels, especially the second generation biofuels. We will be part of that," Sijbesma added.