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2007-02-15 News Release
LANXESS chemicals group expansion in India As part of its Asia strategy, the LANXESS chemicals group is to step up its activities in India considerably in its drive for profitable growth, growing sales appreciably.
A significant investment in new projects is possible in 2007, in addition
to the capacity expansion projects already under way. "For us India
is the most important growth market in Asia after China. We are working
on the assumption that the country will take over from Japan and move
into second place in terms of sales by 2010", said LANXESS Management
Board Chairman Dr. Axel C. Heitmann at a press conference in Mumbai today.
In 2005, LANXESS's sales in India rose by 14 percent. In the first nine
months of 2006, India already accounted for almost 15 percent of the company’s
sales in the Asia-Pacific region – just two percentage points behind
Japan.
Only recently, LANXESS launched two projects to accelerate profitable growth in India. In January, a new plant for the production of the polymer-bound rubber chemical Rhenogran* went on stream in Madurai, India. This was the response from the LANXESS Rhein Chemie Business Unit to the rapidly growing demand from Indian tire manufacturers and other rubber processors for polymer-bound chemicals to improve product quality, processing, economic efficiency, health and environmental protection. At the same time, LANXESS is in the process of building a new facility in Moxi for coloring ABS plastics. With double-digit growth rates, India is the strongest-growing market for ABS plastics in Asia, and Lustran Polymers boasts the highest sales of any LANXESS business unit in India. In 2006 LANXESS ABS Ltd., which is listed on the Mumbai stock exchange and belongs to the Business Unit Lustran Polymers, increased its operating profit by around 40 percent compared with the previous year. LANXESS is the market leader for engineering thermoplastics in India. The biggest growth driver is the emergent Indian automotive industry. Typical applications include fenders, radiator components and headlamp housings.
The new facility is a further step towards the expansion of ABS capacity from 60,000 to 80,000 t/y. Capacity can be further raised to 100,000 t if needed. The project will enable LANXESS to consolidate its leading position with this business in India and to continue participating in the strong market growth. The Asia-Pacific region is of central importance to LANXESS. In 2005,
the company recorded an increase in sales in the region of around 21 percent
compared with 15.8 percent in 2004. The strong sales growth also continued
in the first nine months of 2006.
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