ERJ staff report (SS)
Leverkusen, Germany -- Lanxess AG is to spend Euro 50 million to relocate production of rubber chemicals from its plant in Maharastra to a new site in Gujarat, which will become the company's biggest production site in India.
The company said in a 18 Jan statement that production at the site in Jhagadia, Gujarat, will begin in 2010, in time for the launch of its new ion exchange resin plant which will also be based at the site.
Jhagadia will become Lanxess' second production site in India after Madurai in the southern India state of Tamil Nadu.
The move will create around 250 jobs during the first expansion stage and will help the company to â€œbetter supply the rapidly growing India tyre market,â€ said Lanxess.
Lanxess' head office will remain in Thane, Maharastra
India's economic performance has grown on average by 8.6 percent annually over the past four years - only the Chinese economy has grown faster.
According to Lanxess, sales in the third quarter of 2007, in the region, were up 2.2 percent on the previous year at Euro 325 million.
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more info from Lanxess
Press release from Lanxess