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Lanxess to build plant
By Richard Fu |
September 6, 2012, Thursday
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Print Edition
Print Edition
GERMAN specialty chemicals maker Lanxess plans to spend 235 million euros (US$295 million) building a synthetic rubber plant in China, the company's biggest investment in the country to date.
The Jiangsu Province-based plant will be capable of producing 160,000 tons of ethylene propylene diene monomer (EPDM) rubber, used in windscreen wipers and door sealants, annually when operation starts in 2015, Lanxess said yesterday.
China's demand for EPDM may rise by 8 percent annually in the coming years, double the global rate, the firm said.
The investment comes as China's economic growth slowed to the lowest in more than three years. Still, Lanxess said China is a "cornerstone" of its global growth strategy.
The Jiangsu Province-based plant will be capable of producing 160,000 tons of ethylene propylene diene monomer (EPDM) rubber, used in windscreen wipers and door sealants, annually when operation starts in 2015, Lanxess said yesterday.
China's demand for EPDM may rise by 8 percent annually in the coming years, double the global rate, the firm said.
The investment comes as China's economic growth slowed to the lowest in more than three years. Still, Lanxess said China is a "cornerstone" of its global growth strategy.
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