LANXESS India Celebrates Five Years of Exciting Growth
Reinforces manufacturing presence with projects in Jhagadia and acquisition of chemical businesses of Gwalior Chemical Industries Ltd; Underpins growth with commitment to being an employer of choice and responsible care for the environment
-- Specialty chemicals company LANXESS India Private Ltd. celebrated its fifth anniversary, continuing a successful legacy of more than 100 years in India as Bayer Chemicals, from which it was spun off on July 1, 2004. To celebrate the day, LANXESS employees across India participated in a poster competition. Themed “Celebrating Life at LANXESS”, employees reflect on what they value about their workplace and experiences which have positively impacted them.
Dr. Joerg Strassburger Managing Director and Country Representative, LANXESS India said, “India is one of the company’s most important markets in Asia and an integral part of LANXESS’ BRIC strategy. We have had a successful run of achieving our targets in India and have shown our commitment to sustained growth in the country with strategic acquisitions and expansions. Our Jhagadia site is on track for production in 2010 and our acquisition of Gwalior Chemicals has significantly improved our position in the Indian chemical industry. We will underpin this growth by being an excellent employer and a responsible corporate citizen, contributing to the sustainability of the environment and well-being of the communities.”
Operating from its registered office in Thane in Maharashtra, LANXESS India has grown from strength to strength. The acquisition of Gwalior Chemical Industries Ltd. has been the most recent significant milestone for the company. LANXESS is to acquire the chemical and wind power businesses and assets of the stock-market-listed Indian company for EUR 82.4 million, including debt. This marks LANXESS’ first acquisition in India.
LANXESS India’s other expansion activities are also in full swing. LANXESS, despite the ongoing economic crisis, is staying on course to start up its new Jhagadia site, Gujarat state, in 2010. With an investment of around EUR 50 million, the site will have a new ion exchange resins plant and a rubber chemicals plant which is being relocated from Thane. The plants will provide employment to 230 workers in the state of Gujarat.
From early 2010, the rubber chemicals plant is scheduled to serve the rapidly growing Indian market as well as export market. In addition, this plant will make LANXESS the only Western company active in this line of business in India. The ion exchange resins plant, on the other hand, will be the most modern of its kind in Asia. It will supply products for the generation of ultra-pure water for the semiconductor and pharmaceutical industries, for industrial water treatment, for food production and for power generation. With good infrastructure and lowered cost of production, the proposed state-of-the-art plant will give LANXESS a competitive edge globally.
Presently, LANXESS India has a manufacturing unit in Madurai. It also has sales offices in Thane, New Delhi, Kolkata and Chennai. All of LANXESS’ 13 business units are represented in India. LANXESS also operates a technical and development center for rubber chemicals in Thane.
Notes to Editor
LANXESS is a leading specialty chemicals company with sales of EUR 6.58 billion in 2008 and currently around 14,800 employees in 21 countries. The company is represented at 44 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals.