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January 18, 2008 01:00 AM

Lanxess to invest $73 million in India

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    LEVERKUSEN, Germany (Jan. 18, 2008) — Lanxess A.G. is to spend $73 million to relocate production of rubber chemicals from its plant in Maharastra, India, to a new site in Gujarat, India, which will become the company´s biggest production site in the country.

    The company said production at the site in Jhagadia, Gujarat, will begin in 2010, in time for the launch of its ion exchange resin plant which will also be based at the site.

    Jhagadia will become Lanxess´ second production site in India after Madurai in the southern India state of Tamil Nadu.

    The move will create about 250 jobs during the first expansion stage and will help the company to "better supply the rapidly growing India tire market," Lanxess said.

    Lanxess´ head office will remain in Thane, Maharastra.

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