Cove­stro sales grow by 13% in China

China Daily (Canada) - - BUSINESS -

Global lead­ing ma­te­ri­als man­u­fac­turer Cove­stro made a strong start of 2016 by seek­ing a 29.3 per­cent year-on-year in­crease of EBITDA to 508 mil­lion eu­ros ($571 mil­lion). Driven by higher de­mand in au­to­mo­tive, construction and elec­tri­cal and elec­tron­ics in­dus­tries, core sec­tors, in­clud­ing polyurethanes and poly­car­bon­ates, went up 8.5 per­cent year-on-year in the first quar­ter. The strong­est core volume growth of 11.4 per­cent was achieved in the Asia Pa­cific, while China’s sales in­creased by 13.3 per­cent, up from 4 per­cent growth rate a year ear­lier. The group fore­casts mid-sin­gle-digit growth of full year 2016. AROUND THE­WORLD

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