Financial Daily from THE HINDU group of publications
Sunday, May 14, 2006
Financial Daily from THE HINDU group of publications Sunday, May 14, 2006 |
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Corporate
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New Projects Lanxess to set up rubber additives plant in Madurai Our Bureau
Mumbai , May 13 Lanxess, a European-based chemicals supplier, has announced the establishment of a production plant for rubber additives, under its polymer-bound chemical product line, Rhenogran. The new production plant will open under Lanxess' business unit, Rhein Chemie, at Madurai, by the end of 2006. "As a result of this project we will be able to meet the rapidly increasing demand for polymer-bound chemicals of the Indian automotive, engineering, tyre and footwear industries," said Dr Martin Wienkenhover, Member of the Management Board, Industrial Relations Director, Lanxess. Lanxess was a part of the Bayer Group and entered the Indian market in 1896. It currently functions independently with 15 business units in India with its headquarters in Thane. The new plant will have a capacity of around 2,000 tonnes. However, the company did not disclose investment details for the plant.
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