Singapore wins new Lanxess rubber plant - report

11 February 2008 03:39  [Source: ICIS news]

SINGAPORE (ICIS news)--German chemical company Lanxess has selected Singapore as the site for its largest investment – a €400m ($579.7m) butyl rubber project, Reuters reported on Friday.

Singapore edged out Malaysia and Thailand to win the hotly contested race for the new plant that will produce butyl rubber, used to make car tyres, Reuters reported citing an unnamed source familiar with the matter.

Lanxess said earlier that if it was able to make a decision by end-2007 or early 2008, the plant could start up around 2010.

The company and Singapore’s Economic Development Board (EDB) declined comment.

($1=€0.69)

By: Florence Tan
+65 6780 4359

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