31 May 2012 12:22 [Source: ICIS news]
LONDON (ICIS)--LANXESS is investing €75m ($93m) to build a world-scale polyamide plastics plant in ?xml:namespace>
The 90,000 tonne/year facility, scheduled to begin operating in the first quarter of 2014, will help to meet growing demand from the automotive sector, LANXESS said.
“High-tech plastics play a critical role in our global strategy,” said board chairman Axel Heitmann.
“Our plans for growth depend on innovations and technologies that support the global megatrends. Activities therefore are focused on solutions for sustainable mobility,” he added at the groundbreaking ceremony for the polyamide (or nylon) facility.
LANXESS said global demand for high-tech plastics is expected to rise by 5-6% each year through to 2020.
The company has invested €185m in its high-tech plastics global production network over the last 24 months.
LANXESS plastics are used in engine applications, door structures, pedals, front ends and vehicle cockpit crossmembers, it added.
($1 = €0.81)
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