Lanxess Announces Chinese Tyre Joint Venture

Lanxess has announced that it is strengthening its position in the Chinese tyre market by entering into a joint venture with Anhui Tongfeng Electronic Co Ltd. The agreement will see the company produce rubber antioxidants for the tyre industry and is due to come on stream in the second half of next year, said Martin Wienkenhoever, a member of Lanxess’ board of management. “At present due to the [World Trade Organization] we see that the American and European market is shifting to China,” he said.