Voith sees China as spur of its business

German technology supplier to invest 400m euros in 5 years

The German technology and industrial supplier Voith Group sees China as the main driver of its global business, according to its chief executive officer.

In its 2012 fiscal year, which ended on Sept 30, the group invested 110 million euros ($143.8 million) in the Chinese market, its largest single-country market outside Germany, almost half of its total investment of 272 million euros worldwide, said Hubert Lienhard, Voith president and CEO.

"We plan to invest 400 million euros in China in the five years from 2012," he added.

The investment includes an expansion project at its Paper City in Kunshan, Jiangsu province, one of Voith Paper's largest integrated manufacturing centers in the world.

"China is the core of our global investment activities. We will continue our investment in China and accelerate localization as part of our commitment to long-term development in the country," said Lienhard.

The company also said it received orders in China in 2012 valued at 769 million euros, an increase of 3.2 percent year-on- year, amid a difficult global economy.

"The performance ensures Voith stays on a long-term path for further growth in China, one of our key focuses and core of our expansion in Asia," said Lienhard.

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