German specialty chemicals group Lanxess will launch construction of a new butyl rubber plant in Singapore in May 2010, the company said on Monday.
The new facility will cost up to EUR 400 million (USD 574.9m) and will have an annual capacity of 100,000 tonnes of the product. The plant will create around 200 jobs.
The start of operations is scheduled for the first quarter of 2013.
Lanxess said the new production will help it meet demand for butyl rubber for vehicle tyres which has been growing especially in China and India. Furthermore, butyl rubber is used also in the pharmaceutical industry, particularly in Asia, the company added.
According to Lanxess' estimates, in the coming years the market for butyl rubber is expected to grow at rates of more than 3%.
(Source: irco.biz)
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