Lanxess to maintain investment levels in 2012

ERJ staff report (LMH)

London - Lanxess plans to keep investment levels at about Euro 600 million in 2012, despite facing a slowdown in the market, according to a report by Bloomberg.

The company plans to double capacity in Cabo, Brazil by debottlenecking. Chief financial officer Bernhard Duettmann is reported to have said that Lanxess is looking at the possibility of converting another plant in Brazil to make tyres that reduce fuel consumption.

Lanxess is also said to be focusing on the high-end tyre market in the coming year. Duettmann said the company plans to invest at the same magnitude in 2012 in order to stay ahead of the competition but noted that Lanxess would adjust these plans if the slowdown becomes more pronounced.

Duettmann made his comments in a 14 Nov interview with the news service, Lanxess confirmed.

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Report from Bloomberg