Degussa Management Changes in the China Region

Dr. Dahai Yu is to Succeed Mr. Eric Baden as Regional President China 

Monday, October 9, 2006

The Dusseldorf-based specialty chemicals company Degussa AG recently announced that Dr. Dahai Yu, Head of the Agrochemicals & Intermediates Business, is to become Regional President China on October 1, 2006, in addition to his current responsibilities. The main office of the Agrochemicals & Intermediates Business will also be relocated to China. Mr. Eric Baden, the current holder of regional president, is leaving the company at his own request.  

Degussa has grown rapidly over the past five years in China starting from several representative offices. Today over 18 Chinese companies with production facilities in Anqiu, Beijing, Changchun, Jining, Liaoyang, Nanning, Qingdao, Rizhao, Shanghai, and Yingkou belong to the Degussa Group. "I am very happy to see that our professional workforce quintupled to 4000 over the past five years and sales grew by about 40% annually to over 320 million euros in 2005. Degussa is now widely recognized as a leading corporate citizen in China," said Mr. Baden.  

 As part of Degussa's global performance enhancement program, Degussa China's development program—Make China Happen aims to increase the volume of business in the attractive growth region to some 800 million euros within three years. "With increased responsibility of the president for regional business, and the relocation of global Agrochemicals & Intermediates Business, Degussa will further demonstrate its commitment to China and continue to strengthen its presence in this key market," said Dr. Yu.  

"We would like to thank Eric Baden for his many years of successful work for Degussa, and wish him every success and all the best for the future,"  said Dr. Alfred Oberholz, Deputy Chairman of the Management Board of Degussa AG,  "We would also like to thank Dr. Dahai Yu for his successful work to date and wish him much continued success with his new assignments."

CV attached:  CV of Dr. Dahai Yu

Degussa is the global market leader in specialty chemicals. Our business is creating essentials – innovative products and system solutions that make indispensable contributions to our customers’ success. In fiscal 2005 around 44,000 employees worldwide generated sales of 11.8 billion euros and operating profits (EBIT) of 940 million euros.

Degussa has been producing specialty chemicals in China since the early nineties, and had maintained varied trade relations with the country previously.  Today, Degussa operates in China a total of eighteen companies with production sites in Anqiu, Beijing, Changchun, Guangzhou, Hong Kong, Huzhou, Jining, Liaoyang, Nanping, Nanning, Nanping, Qingdao, Rizhao, Shanghai, Taiwan, and Yingkou.  In China, Degussa now has a workforce of more than 2,600 employees. In fiscal 2005, the Group generated total sales of more than 320 million euros in China.  Degussa's mission for China is to become its most committed partner in specialty chemicals.