Lanxess: Further Investment in China
Lanxess is strengthening its commitment to serve the growing Chinese market with premium products by making a number of local investments totaling more than EUR 40 million. The German specialty chemicals company held a groundbreaking ceremony at the start of this week for a new leather chemicals plant in Changzhou, Jiangsu province, representing a EUR 30 million investment. It will have a capacity of 50,000 metric tons per year and will come on stream in the first half of 2013.
In addition, Lanxess will start up the third production line of its high-tech plastics plant in Wuxi, Jiangsu province, tomorrow. The EUR 10 million-investment increases total capacities at the plant to 60,000 metric tons per year. The plant produces the innovative, lightweight plastics Durethan and Pocan that replace heavier metal parts in automobiles thus contributing to fuel efficiency and reduced emissions. China is the world’s largest automotive market, and is expected to grow by nine percent this year.
Apart from strengthening its asset base, the company is opening a technology center in Qingdao, Shandong province, next week to intensify services for the beverage industry. The center represents a single-digit million euro investment and will initially be the home to 10 experts.
Lanxess is operating or constructing major production sites in Shanghai, Wuxi, Liyang, Nantong, Changzhou and Qingdao. In addition, the company has a headquarters in Shanghai for many of its business units, as well as offices in Beijing, Guangzhou and Hong Kong. The company has close to 900 employees and achieved sales of about EUR 800 million in China in 2010.
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