27 November 2012 17:12 [Source: ICIS news]
LONDON (ICIS)--Major synthetic rubber producer Synthos is creating a zlotych (Zl) 86m ($27.1m, €21.0m) research and development centre that will be half-funded by the EU, the Polish company said on Tuesday.
Located in the southern Polish town of Oswiecim, near Krakow, the Synthos Research & Development Centre for New Technologies will be backed with Zl 43m from the EU Operational Programme for the Innovative Economy, it added.
The main purpose of the centre will be the development of new types of synthetic rubber, including products used in the manufacturing of tyres that will help meet environmental objectives, such as lower fuel consumption, Synthos said.
The centre is to open in September next year, but it will not be fully operational until June 2014, the company added.
However, in November, analysts noted that the company had started to suffer from weak tyre demand in Europe.
($1 = Zl 3.17, €1 = Zl 4.10)
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