Lanxess steps up investments in China

Lanxess steps up investments in China

2:35 PM, 29th July 2011
Lanxess steps up investments in China
Axel C Heitmann, CEO, Lanxess.

  • Groundbreaking for new leather chemicals plant in Changzhou
  • Start-up of new high-tech plastics production line in Wuxi
  • Opening of new technology centre in Qingdao for beverage industry products

LEVERKUSEN, GERMANY: Lanxess recently held a groundbreaking ceremony for its new leather chemicals plant in Changzhou, Jiangsu province, representing a €30 million investment. With a capacity of 50,000 metric tonne per year, the plant will come on stream in the first half of 2013.

China is the largest market for leather chemicals worldwide, with steady growth expected in the coming years. The plant, producing leather chemicals such as Tanigan, Isoderm, Euderm and Levotan, will address the growing demand in China.

Lanxess has strengthened its investments in China to serve the growing market with premium products by making a number of local investments totaling more than €40 million. “China remains one of the fastest growing markets in Asia and a key pillar of our mid-term growth strategy,” said Axel C Heitmann, CEO, Lanxess.

In addition, Lanxess will start the third production line of its high-tech plastics plant in Wuxi, Jiangsu province. The €10 million-investment increases total capacities at the plant to 60,000 metric tonne per year. The plant will produce products for the automobile industry, as China is the world’s largest automotive market and is expected to grow by nine per cent this year.

Further, Lanxess is opening a technology centre in Qingdao, Shandong province, to intensify services for the beverage industry. The centre represents a single-digit million euro investment. It will provide analytical, consultancy and customized services for Lanxess’ flagship product Velcorin - used as a sterilization agent in non-alcoholic beverages and wine. China is set to become the world’s largest beverage market in the next decade. 

© WOC News

 

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