2011-11-09

LANXESS signs Investment Agreement to build a new inorganic pigments plant in Ningbo

Shanghai-November 9, 2011 – German specialty chemicals company LANXESS has entered into a conditional investment agreement with Ningbo Petrochemical Economic & Technological Development Zone for a future investment project.  According to the agreement, LANXESS plans to build a new facility for the production of inorganic pigments in Ningbo to further grow its business in China and globally. The construction of the plant on this site is still subject to the approval of local authorities and further investigation of the suitability of the site.

 

The national-level Ningbo Petrochemical Economic & Technological Development Zone is a pure petrochemical industry park. Having started operations in 1998, the zone boasts a sound infrastructure and a convenient transportation network. For example, the largest liquid chemical terminal of China lies within this industrial park. Also there is a container terminal close to the park.

 

“The signing of the investment agreement has further demonstrated our lasting commitment to China and our belief in the potential of the dynamic city of Ningbo,” said Dr. Wolfgang Oehlert, Vice President for LANXESS Inorganic Pigments business Unit in Asia Pacific after the signing ceremony. “With the new plant in Ningbo we will be able to complement our product portfolio for synthetic iron oxide pigments and strengthen our existing footprint in China.”

 

LANXESS, in addition, runs one of China’s largest and most modern plants for iron oxide pigments manufacturing in Jinshan, Shanghai. The plant has a full capacity of 28,000 metric tons of yellow iron oxide pigments and 10,000 tons of black iron oxide pigments annually. The products are mainly used by the paint and coatings industries. Driven for example by the mega-trend of urbanization, a rising market demand is seen in China as well as in other areas of the Asia Pacific region.

 

LANXESS business unit Inorganic Pigments (IPG) is one of the world’s leading manufacturers of iron-oxide-based inorganic pigments. It produces around 350,000 metric tons per year of iron oxide and chrome oxide pigments at its facilities in Germany, Brazil and China. The environmentally safe pigments in the established Bayferrox and Colortherm ranges are lightfast, weather-stable and highly resistant to chemicals. The IPG business unit belongs to LANXESS’ Performance Chemicals segment, which achieved total sales of EUR 1.98 billion in fiscal 2010

 

LANXESS is a leading specialty chemicals company with sales of EUR 7.1 billion in 2010 and currently around 16,100 employees in 30 countries. The company is at present represented at 47 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals. LANXESS is a member of the leading sustainable indices Dow Jones Sustainability Index (DJSI) World and FTSE4Good.

 

Forward-Looking Statements.
This news release may contain forward-looking statements based on current assumptions and forecasts made by LANXESS AG management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

 

Information for editors:
All LANXESS news releases and their accompanying photos can be found at http://press.lanxess.com. Recent photos of the Board of Management and other LANXESS image material are available at http://photos.lanxess.com. The latest TV footage, audiofiles and podcasts can be found at http://corporate.lanxess.com/en/media/audio-video/.

 

You can find further information concerning LANXESS chemistry in our WebMagazine at http://webmagazine.lanxess.com.

Contact

Charlene Pan

Charlene Pan
Corporate Communications

LANXESS Chemical (China) Company Limited

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