Economy and Business
Lanxess, TSRC to launch rubber JV in China
By Ma Zhenhuan (China Daily Shanghai Bureau)
Updated: 2010-05-08 13:52
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SHANGHAI: Specialty chemicals maker LANXESS announced on May 7 that it will enter a 50-50 joint venture with Taiwan's TSRC Corporation to produce high-grade nitrile rubber (NBR), a vitally-need product in the auto-making sector.
The new plant, with a joint investment of US$50 million, will be located in Nantong, Jiangsu and will have an initial capacity of 30,000 metric tons per year when it start production in the first half of 2012..
"The Chinese NBR market is the fastest growing in the world, boasting double-digit growth rates," said Werner Breuers, member of LANXESS' Management Board. "The partnership brings us a step closer to our customers and opens the door to further tie-ups in the emerging Asian market in the future."
"The partnership is a win-win deal as it brings together TSRC's long history of engineering and production know-how in China, together with LANXESS' marketing and technical expertise in synthetic rubber," said TSRC's CEO Tu Weihua.
