China: High-Tech Plastics Lanxess to Construct Compounding Plant in China
Lanxess invests € 20 million in a new plant for high-performance plastics in Changzhou, China. From Q2 2019, the compounding plant is to produce up to 25,000 tons of Durethan- and Pocan-branded high-tech plastics for the automotive sector and the electric and electronics industry.
Leverkusen/Germany — According to studies, around one in four of the approximately 85 million cars sold around the world this year will be sold in China. This figure is expected be one in three in 2025. The electric and electronics industry also offers a great deal of potential in China. Lanxess expects here annual growth of around nine percent till 2021.
“China is the largest automotive market in the world and is setting the pace for electromobility. We want to support growth in this important region and are expanding our presence in the high-performance plastic segment,” said Matthias Zachert, Chairman of the Lanxess Board of Management, at a press conference in Shanghai. The company already operates a plant for high-performance plastics in Wuxi, China.
At the Binjiang Chemical Park in Changzhou, the Group already has plants for leather chemicals and synthetic rubber, which currently employ around 350 people. The new plant for high-performance plastics will create 35 additional jobs.
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