LANXESS Moves Butyl Rubber Global Headquarters to Singapore

Mumbai, India (PressExposure) November 16, 2009 -- Specialty chemicals group LANXESS AG today announced it is moving the global headquarters for the Butyl Rubber business unit from Fribourg, Switzerland, to Singapore in 2010 to better serve the growing demand in the Asia-Pacific.

“We want to be close to our customers in the Asia-Pacific and being in Singapore allows us to do that. Singapore’s pro-business environment, the ability to attract talents from all over the world, and a world-class infrastructure for logistics and supply chain management are all compelling reasons for us to operate our global business from here.” says Dr. Ron Commander, Global Head of the LANXESS Butyl Rubber business unit.

“We are delighted that LANXESS has decided to locate its global headquarters for the Butyl Rubber business unit in Singapore. This significant decision reflects LANXESS’ confidence and trust in Singapore as Asia’s leading energy and chemicals hub. It is also testament to Singapore's attractiveness as a home for companies to manage their regional as well as global activities." says Mr. Leo Yip, Chairman, Singapore Economic Development Board.

The Butyl Rubber business unit has previously announced it will build a 100,000-ton per annum plant on Jurong Island, and has scheduled production to start in 2014. With an investment of up to EUR 400 million, the plant will be the largest of its kind in Asia and equipped with a unique breakthrough technology that will make it the world’s most modern butyl rubber facility.

In Singapore, LANXESS manages the Southeast Asian business of its 13 business units. It also hosts the Asia-Pacific marketing headquarters of the Leather business unit and a microbiology testing laboratory belonging to the Material Protection Products business unit.

Forward-Looking Statements This news release may contain forward-looking statements based on current assumptions and forecasts made by LANXESS AG management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

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LANXESS is a leading specialty chemicals company with sales of EUR 6.58 billion in 2008 and currently 14,335 employees in 23 countries. The company is represented at 46 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals.

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Press Release Submitted On: November 16, 2009 at 6:32 am
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