Lanxess Plans Rubber Plant in Singapore
German chemicals firm Lanxess plans to build a butyl rubber plant in Singapore.
The $575m plant will manufacture 100,000t of butyl rubber, a chemical used to make tyres.
The construction of this new plant will begin in June 2010 and it is expected to be operational in the first quarter of 2013, reports news agency AFP.
Lanxess announced last year that it would put back the start of production at the proposed rubber facility to 2014 following the global economic crisis.
Lanxess butyl rubber business unit head Ron Commander said growth in the tyres market has driven the company to revise the decision.
"As of the third quarter of 2009, we saw much more stability in the market...and a lot of growth in Asia, predominantly in China," Commander said.
Lanxess will also move the global headquarters for its butyl rubber business to Singapore from Switzerland this year.