Germany’s LANXESS eyes growing South Africa auto market

27 November 2012 16:14  [Source: ICIS news]

LONDON (ICIS)--LANXESS is looking to growing car sales in South Africa as a market for its synthetic rubber chemicals and high-tech plastics, the Germany-based chemicals firm said on Tuesday.

South Africa's automotive market and industry were encouraging – despite a backdrop of weak momentum in the overall economy, LANXESS said.

South Africa’s overall new car and commercial sales for October rose 10.5% year on year to 57,845, and total domestic sales for the first ten months of 2012 were up 10.1% year on year, LANXESS said, citing a recent report by the country’s auto manufacturers association.

Meanwhile, South Africa’s October export car sales fell 3.3% year on year to 24,904.

LANXESS said that South Africa’s car market is expected to continue its growth, driven by low interest rates, replacement demand, attractive incentives, and a variety of choice and ongoing new model introductions, among other factors.

LANXESS’ production in South Africa includes a chrome ore mine, a chrome chemicals plant, and a facility for rubber chemicals, among other assets.

By: Stefan Baumgarten
+1 713 525 2653

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