Lanxess
Lanxess has announced it is to invest €100 million (approx. £87.4m) in expanding its European production facilities as it targets further growth.
In a three-year programme its Advanced Industrial Intermediates business unit will spread the investment between its German and Belgian sites to expanding production facilities for chemical intermediates.
“Organic growth is a key success factor as new Lanxess heads forward. This investment program accompanies the dynamic development of our customers and their sectors,” said Hubert Fink, member of the Board of Management of LANXESS AG.
“A high proportion of the planned new capacities is already backed by customers’ orders. At the same time, we are also strengthening our sites, particularly in North Rhine-Westphalia.”
Construction work on the new German sites, which produce key components of many agrochemicals, polymers, paints, coatings and pigments, is expected to start later this year and complete by 2020.
At the Antwerp site in Belgium, Lanxess will be investing a mid-single digit euro million figure to expand its production capacities for rubber chemicals.