ERJ staff report (DS)
Ningbo, China -- Formosa Plastics Group (FPG), Taiwan`s largest plastics conglomerate, will invest US$300 million to set up a factory to make butyl rubber in Ningbo, Zhejiang province, China. Other investments aimed at the tyre industry will take FPG's investment to $500 million.
Construction of the butyl plant will begin in October this year and the unit is due on stream in 2013. Initially the plant will have capacity for 50,000 tons of IIR (isobutylene-isoprene rubber) per year aimed at the tyre market.
In addition to the Ningbo plant, the group has three other proposals related to production of tyres in China, bringing its overall investments to US$500 million. The company did not specify these projects, which will be enacted through FPG subsidiary, Formosa Synthetic Rubber Corp. (FSRC).
Lanxess AG has announced a plant to make butyl rubber in Singapore, with capacity around 100 kt/year, also due on stream in 2013.
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Press release from CENS