Lanxess is cranking it up

MUMBAI: Realising the growth possibilities offered by India, Germany-based chemicals major Lanxess has decided to set up a new plant for rubber additives and enhance its capacity for production of acrylonitrile butadiene styrene (ABS) in the country.

The company’s subsidiary Lanxess India will set up a new plant for ‘Rhenogran’ rubber additives in Madurai.

The new facility, with a capacity of 2,000 tonne per annum, increasing demand in India for polymer-bound chemicals in automotive, tyre, engineering and footwear industries.

It would be operational by the end of the current year. It will also enhance capacity for acrylonitrile butadiene styrene (ABS) by 20,000 metric tonne to 80,000 mt.

“India is the second fastest growing market for us after China. The new facility and expansion project are part of our restructuring process at global level. We intend to go ahead for acquisitions once the consolidation is done,” said Martin Wienkenhover, member of management board of Lanxess AG. He did not divulge the proposed investment for the two projects.