New Lanxess plant to service swelling Russian tyre market
Russia is currently a growth market for specialty chemicals group Lanxess. In the first nine months of 2011 the company enjoyed sales of close to 50 million euros there, more than twice what it earned in the whole of 2009. To capitalise on the expanding Russian automotive and tyre industries, Lanxess has now decided to invest in a new facility in Lipetsk, some 300 miles southeast of Moscow. Construction of the plant, which will be operated by Lanxess’ Rhein Chemie subsidiary, is set to start early this year and production is scheduled to commence during the first half of 2013. The site will be built at a cost of five million euros and will employ around 40 people in the medium term.