The division performed well in important markets of Asia. In India and Japan, sales increased to € 54 million and € 76 million, respectively, corresponding to year-on-year growth of 14% and 3.4%, respectively. Business was negatively impacted in otherwise strong markets such as Taiwan and China, which were particularly affected by the global economic crisis in the first half of 2009. Sales in Taiwan decreased by 3.8% to € 25 million and in China by 2.9% to € 34 million compared with 2008. In Latin America, our business remained stable. Our traditionally high market shares in this region helped us to solidly secure ourselves against further economic downturns.
Performance & Life Science Chemicals | Sales by region
The Pigments business, which at € 238 million accounted for around one-fifth of the division’s total revenues, clearly felt the effects of the global economic crisis in 2009. The demand for automotive coatings fell substantially as a result of declining production in the automotive industry. By contrast, the Laboratory Business grew slightly and, at € 524 million, accounted for almost half the division’s total revenues. Life Science Solutions, which is less dependent on economic cycles, also showed stable performance. At € 440 million, this business accounted for about one-third of the division’s total revenues.
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