Key Developments: Lanxess AG (LXSG.DE)
Latest Key Developments (Source: Significant Developments)
Lanxess AG announced that it at its new site in Lipezk, the Company’s subsidiary Rhein Chemie will produce rubber additives and release agents for the Russian and Common Wealth Of Independent States (CIS) markets, especially for the automotive and tire industries. Construction of the new production plant is due to start in early 2012, with the launch of production scheduled for the first half of 2013. In 2016, a production facility for bladders used in tire production is to be added. Total investment will amount to approximately EUR 5 million, creating 40 new jobs in the medium term. Full Article
FRANKFURT, Nov 18 - Germany's Lanxess, the world's largest maker of synthetic rubber, believes that the European automotive market has bottomed out, chief executive Axel Heitmann was quoted as saying in an interview published on Monday.