Germany's Lanxess starts work on Singapore rubber factory

China's Ansteel Group signs deal to build five US plants
Shanghai (AFP) May 17, 2010 - China's Anshan Iron and Steel Group said Monday it had signed an equity investment agreement with US mill Steel Development Company that includes the construction of five new US plants. The first plant will be built in Amory, Mississippi and will mainly target the southeastern United States and Latin American markets, the Chinese company, also known as Ansteel, said on its website. It said the deal, which was signed Friday, was structured so as to meet US government requirements that steel used in infrastructure projects funded by a massive American stimulus package come from local manufacturers.

The Mississippi state government will help subsidise the Amory plant, the statement said, without providing further details. No financial terms were disclosed. Chinese commerce ministry spokesman Yao Jian said the government supported efforts by the country's steel companies to move into overseas markets. "The cooperation between China and the United States in the manufacturing sector, including the steel industry, will help improve (China's) manufacturing technologies, the use of clean energy, and so on," he said at a briefing. "I think it is a good thing." Yao noted that the ministry had not yet received Ansteel's application regarding its investment plans.

by Staff Writers
Singapore (AFP) May 17, 2010
German chemicals giant Lanxess on Monday broke ground on a 400-million euro (490 million US dollars) plant in Singapore as it moves to meet rising demand for tyres in China and India.

The company said it will channel at least 10 percent of the investment towards "modern technologies engineered to protect the environment" through a cleaner and more energy-efficient manufacturing process.

"In terms of volume, this investment is the largest in our five-year history," Axel C. Heitmann, chief executive officer of Lanxess, said in a statement.

"It underlines our commitment to synthetic rubber as well as our customers and to the future growth markets in Asia."

The plant will start producing butyl rubber, a chemical used to make tyres, in the first quarter of 2013, the company said in a statement.

Located in Jurong island, a petrochemicals base that has attracted billions of dollars in foreign investment, the 100,000-tonne per annum Singapore plant will become the hub of Lanxess' Asian operations.

The company said the factory will enable it to meet rising demand for butyl rubber in China and India where rapidly expanding middle classes are buying more cars.

Butyl rubber is also a key product in the pharmaceuticals industry, primarily in Asia, Lanxess said.

It said the firm's butyl rubber plants in Belgium and Canada are already producing at full capacity.

Lanxess' customers include global tyre brands Bridgestone, Michelin, Hankook and Yokohama.

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