LANXESS to expand capacity at compounding plant for high-tech plastics in China

April 19, 2010 - PRLog -- LANXESS will expand capacities at its state-of-the-art compounding plant for high-tech plastics in Wuxi, China. The German specialty chemicals company will invest in a third production line at the plant, which will increase compounding capacities by nearly 50 percent and go on stream mid-2011. After the expansion, the plant will have a capacity of roughly 60,000 metric tons and will yield a double-digit increase of skilled labor.

The expansion was announced today during Chinaplas, Asia’s largest and most important plastics and rubber trade fair. “This investment will serve the growing demand from Chinese and Asian customers for premium, high-performance engineering plastics, mainly driven by the booming automotive industry,” said LANXESS Chairman of the Board of Management, Axel C. Heitmann. He added that LANXESS was considering further investments in Wuxi in the near future.

LANXESS is a leading specialty chemicals company with sales of EUR 5.06 billion in 2009 and currently around 14,300 employees in 23 countries. The company is represented at 43 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals. More information at http://www.lanxess.sg.


Forward-Looking Statements
This news release may contain forward-looking statements based on current assumptions and forecasts made by LANXESS AG management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

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LANXESS is a leading specialty chemicals company with sales of EUR 6.58 billion in 2008 and currently 14,335 employees in 23 countries. The company has 46 production sites worldwide. More information at http://www.lanxessgoesasia.com.