LANXESS projects significant new investment in rubber business
With costs of a magnitude of roughly EUR 400 million, the new production facility would be the largest investment in the company’s history / Locations under consideration include sites in Singapore, Malaysia and Thailand
Chemical group LANXESS seeks to expand its global position in the butyl rubber market and is pursuing plans to build a new facility in Asia.
“This would be the largest investment in the history of our company,” said LANXESS Management Board Chairman Axel C. Heitmann during a visit to Singapore. In the next few months we will hold talks with possible host locations to determine the feasibility of the construction of a new plant. Should we decide upon a location, we will be able to bring the facility on stream in 2010.” LANXESS projects an investment of a magnitude of EUR 400 million. Negotiations at three possible sites, Singapore, Kuantan in Malaysia and Map Ta Phut in Thailand, will begin immediately. In the last several months, LANXESS has analyzed sites across Asia to assess their feasibility.