LANXESS plans to build a new high-performance plastics plant in China
Lanxess AG (Cologne, Germany; www.lanxess.com) is building a new plant for high-performance plastics in Changzhou, China for around €20 million. Beginning in the second quarter of 2019, the compounding plant is set to produce up to 25,000 metric tons per year (m.t./yr) of Durethan- and Pocan-branded high-tech plastics for the automotive sector and the electric and electronics industry.
“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. LANXESS already operates a plant for high-performance plastics in Wuxi, China.
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.
“At the same time, we are expanding our global network of compounding plants with the new production site and are continuing to consistently focus our portfolio on high-value plastics,” said Michael Zobel, Head of the High Performance Materials business unit at LANXESS.