Russia is currently a growth market for specialty tire and rubber chemicals group Lanxess.
Rainier van Roessel says Lanxess wants to benefit directly from the potential offered by the key Russian and CIS markets.
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 capitalize on the expanding Russian automotive and tire 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. (Tyres & Accessories)