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Recently, German LANXESS Group announced that the company will invest 600 million euros (812 million US dollars) to expand tire material production capacity next year.
As of now, LANXESS has production facilities or offices in 30 countries and employs 15,800 people worldwide. LANXESS currently has 46 production sites worldwide. The core business of LANXESS is the development, manufacture and marketing of plastics, rubber, intermediates and specialty chemicals.
In 2010, it achieved sales of 7.1 billion euros. In the third quarter of this year, LANXESS Group's sales increased by 26% year-on-year to 2.3 billion euros (3.1 billion US dollars), and EBITDA increased by 27% year-on-year to 311 million euros (4.19). One hundred million U.S. dollars). LANXESS expects the annual profit before tax, depreciation and amortization to increase by 20% to 1 billion euros (1.35 billion U.S. dollars).
In a recent interview, Bernhard Duettmann, chief financial officer of LANXESS Group, said that the company plans to double its production capacity at the Cabo plant in Brazil to the current level, and also plans to convert another factory in Brazil into an environmentally friendly tire material production plant. There are other investment projects, including expanding product lineups.