12 November 2009 10:24 [Source: ICIS news]
SINGAPORE (ICIS news)--LANXESS is to move the global headquarters of its butyl rubber business from Switzerland to Singapore, the German specialty chemicals producer said on Thursday.
"We want to be close to our customers in the Asia-Pacific, and being in Singapore allows us to do that," said Ron Commander, global head of LANXESS' butyl rubber segment.
The company did not disclose a time frame for the move.
The company plans to build a 100,000 tonne/year butyl rubber plant on Jurong Island that would cost up to €400m ($597m). The facility is to start up in 2014, LANXESS said.
LANXESS manages the southeast Asian operations of 13 business units from Singapore.
Singapore is also the base for LANXESS' leather business in the Asia-Pacific market and a microbiology testing laboratory for its material protection products, the company said.
($1 = €0.67)For more on LANXESS visit ICIS company intelligence
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