China could target US, European chemicals -paper

ZURICH, Feb 5 (Reuters) - Chinese companies could be interested in European and American specialty chemicals firms, a senior Chinese lawmaker was quoted as saying on Tuesday.

"We have been encouraging Chinese companies since 1999 to look out for acquisition targets in the West, including in chemicals and pharmaceuticals," Cheng Siwei, vice-chairman of the standing committee of the National People's Congress, China's parliament, told Swiss newspaper HandelsZeitung.

"American and European specialty chemicals companies are most interesting for Chinese chemical firms," Cheng said in an advance copy of an interview to be published on Wednesday.

Takeover talk has long swirled around Swiss specialty chemical companies Clariant (CLN.VX: Quote, Profile, Research) and Ciba (CIBN.VX: Quote, Profile, Research), which have been hard hit by rising raw materials prices and increased competition from Asian players. (Reporting by Sam Cage; Editing by David Holmes)