Lanxess invests in Chinese market

In a move to strengthen its presence in China, German specialty chemical supplier Lanxess has announced plans to invest more than EUR 40 million in new production lines and facilities.

“China remains one of the fastest growing markets in Asia and a key pillar of our mid-term growth strategy,” said Lanxess CEO Axel Heitmann.

Part of the investment involves starting up a third production line at Lanxess’ high-tech plastics plant in Wuxi, Jiangsu province, a EUR 10 million investment that will increase total capacities at the plant to 60,000 metric tons per year. The plant produces Durethan and Pocan materials that replace heavier metal parts in automobiles.  

Also, the company will open a technology centre in Qingdao, Shandong province.