ERJ staff report (DS)
Leverkusen, Germany -- Lanxess AG has confirmed that the chemical park on Jurong Islandwill be the site of a EUR 400 million butyl and halobutyl rubber factory. From 2011, the site in Singapore will produce up to 100,000 tons of butyl rubber annually, making the Lanxess plant the largest facility of its type in Asia. Construction is due to begin in the first quarter of 2009 and will be completed by the end of 2010. Some 200 new jobs will initially be created.
â€œBy setting up this new location in Singapore, Lanxess is responding to the significant growth in global demand for butyl rubber,â€ said Axel Heitmann, chairman of the Lanxess Board of Management at a press conference in Singapore.
â€œThe boom in Asia as an economic region is playing a particularly important role in this,â€ added Heitmann. Market analyses confirm that the global market for butyl rubber will rise steadily in the coming years. Growth is most pronounced in China, where it corresponds to six percent annually, and in India, where it is more than eight percent. â€œWith the new capacities, we will consolidate the good market position we already occupy,â€ said Heitmann.
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Press release from Lanxess