LANXESS: invests EUR 15 million in its glass fiber plant in Antwerp

Date: 7 September 2011
Source: www.4-traders.com

Date: 7 September 2011

LANXESS is investing EUR 15 million in its glass fiber plant in the Antwerp docklands. For the specialty chemicals company glass fibers are a key intermediate for the production of high-tech plastics.

With the expansion, the actual annual capacity of 60,000 metric tons will increase by 10 percent. The announcement was made during a LANXESS High-Tech Plastics Day at the facilities for caprolactam and glass fibers in Belgium. With the investment the glass fiber plant will replace both furnaces. 

“The high-tech plastics business is a major growth driver for LANXESS. There is attractive business potential in the global market arising from the increasing demand for modern mobility as well as from the electric and electronic markets,” stated Werner Breuers, member of the Board of Management of LANXESS AG. The global demand for high-tech plastics is expected to increase by roughly seven percent per year through 2020.

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600450 LANXESS: invests EUR 15 million in its glass fiber plant in Antwerp glassonweb.com

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