Bayer forecasts double-digit growth in ChinaV

Video: Exclusive interview with Johannes Dietsch, president of Bayer Greater China Group

Germany's Bayer Group expects double-digit growth rates in China in the coming years and will continue with its investments and capacity increase in the country, said the company's top executive.

Johannes Dietsch, president of Bayer Greater China Group, told China Daily that he is confident about the group's 2012 performance in China.

Sales from the Chinese mainland, Hong Kong and Taiwan markets were worth 3 billion euros in 2011, accounting for more than 8 percent of Bayer's global sales.

As the company's third-largest single market globally and the biggest in Asia-Pacific, China has seen very high growth rates in the past. From 2006 to 2011, Bayer's average growth rate in China was 15 percent, Dietsch said.

Also, globally the Bayer Group remains on a growth path with a sales increase of 11.5 percent in the third quarter.

"The upward trend in our life science businesses — HealthCare and CropScience — continued in the third quarter of 2012," Management Board Chairman Dr. Marijn Dekkers said following the publication of the company's interim report.

Seeing a lot of opportunities in China, Dietsch said Bayer will double its capacity in the country over the next years. With the Bayer Integrated Site in Shanghai, Bayer has earmarked its largest investment outside of Germany.

The Chinese government has clearly communicated that it will focus on quality growth during the 12th Five Year Plan (2011-15) period, and has set clear targets in agriculture, health care and energy efficiency.

"At Bayer, we believe in 'Science for A Better Life' and are in the position to help China address its core challenges through our portfolio and innovations", Dietsch said.