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05 February 2010 at 11:25 IST
LANXESS completes 5 years of operation in India
MUMBAI (Commodity Online): Speciality chemical group LANXESS has completed five years of successful operations in India.Innovations coupled with superior technology have been the key drivers of growth for the company over the past five years, a company press release said.
Among the significant acheivements of the company include the acquisition of Gwalior Chemical Industries Ltd, and setting up of ION Exchange Resins plant in Gujarat.
The company has acquired Gwalior Chemical Industries Ltd. The deal is a milestone in LANXESS' growth strategy in BRIC countries with LANXESS and BAC particularly moving toward a leadership position in the Indian chemical space. The acquisition combines LANXESS' international expertise with Gwalior's regional knowledge to result in enhanced synergies
LANXESS has set up a new ION Exchange Resins plant in Jhagadia (Gujarat) to be operational by November 2010. With state-of-the art infrastructure and lowered production cost, the plant is poised to give LANXESS a competitive edge globally.
At present the tyre market in India is the world's fastest growing market; this has reinstated the company's projection and planning that the relocation of the Thane plant and investment in new Research facilities are the way of the future and shows promise of a very positive business outlook for LANXESS India for the Rubber Chemical unit.
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While LANXESS was incorporated in India on July 1st, 2004, the company has a long history in India spanning back to more than 100 years as Bayer Chemicals.
Dr. Joerg Strassburger, Managing Director and Country Representative of LANXESS India, commented, "One of the cornerstones of the company is the emphasis we put on nurturing talent and lasting partnerships be they with employees, customers or vendors. In the last 5 years our endeavour has been to understand India and establish ourselves as a major speciality chemical player. India plays a significant role in the LANXESS BRIC strategy. The buying of Gwalior Chemicals and expansion into Jhagadia validate our commitment to the country".
Today, the company has over 500 employees and 4 sites; one in Thane, the other in Madhurai, another in Jhagadia and the forth and most recent in Nagda.
(IndiaPRWire)
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