LEVERKUSEN, Germany (Dec. 19, 2008)—Lanxess A.G. has postponed breaking ground at its butyl rubber plant in Singapore from January to sometime in the fall, the company said.
Lanxess expects to commence operations at the plant in 2012.
Lanxess said capacity expansions in Leverkusen and Antwerp, Belgium, also will be postponed, as will its planned move of headquarters from Leverkusen to Cologne.
"We have decided to put off some investment projects given the decline in demand for chemical products we are seeing throughout the world,” Lanxess chairman Axel Heitmann said. “In addition, this will ensure the necessary financial flexibility for the difficult fiscal year 2009."