LEVERKUSEN, Germany (Feb. 26, 2008) — Lanxess A.G. said it is planning a $595 million butyl and halobutyl rubber factory in the chemical park on Jurong Island in Singapore.
When completed by 2011, the site will produce up to 100,000 tons of butyl rubber annually, making one of the largest facilities of its type in Asia, the firm said.
Construction is expected to begin in the first quarter of 2009 and be completed by the end of 2010. About 200 jobs will be created initially.
Axel Heitmann, chairman of the Lanxess Board of Management said the boom in Asia as an economic region is playing a particularly important role in project with studies showing the global market for butyl rubber will rise steadily in the coming years.