Rhein Chemie still on track – Construction of new production facilities for specialties and service products at headquarters in Mannheim and in Qingdao, China
Friday, 28. March 2008 Fiscal 2007 was a successful year for the Rhein Chemie Group, and the company continues to be on track. Global sales amounted to EUR 295 million, compared to EUR 302 million in the previous year. The slight deterioration in sales of 2 percent compared with 2006 is mainly due to negative currency effects.
Mannheim – Fiscal 2007 was a successful year for the Rhein Chemie Group, and the company continues to be on track. Global sales amounted to EUR 295 million, compared to EUR 302 million in the previous year. The slight deterioration in sales of 2 percent compared with 2006 is mainly due to negative currency effects.
“Rhein Chemie’s Asia business is continuing to develop well, especially in China,” said Dr. Anno Borkowsky, CEO and President of Rhein Chemie Rheinau GmbH, Mannheim, Germany. The company has been successfully manufacturing its entire portfolio for the rubber industry in Qingdao since 1999, and, this year, will start producing high-performance additives for the lubricants industry there as well. Dr. Anno Borkowsky: “We laid the foundation stone for the new production building in January. We plan to start production at the end of 2008.”
“The restructuring program we initiated last year to strengthen the competitiveness of Mannheim as a location is making good progress,” continued Dr. Borkowsky. The activities involved include the construction of new production plants and the modernization of existing facilities for the manufacture of specialties and service products for the rubber industry. To this end, the company is investing EUR 7 million in its headquarters in Mannheim. Building work on the new production building has already begun, with production due to be launched at the end of 2008.
Rhein Chemie has been successfully providing the chemical industry with tailor-made additives and service products for more than 100 years. Approximately 850 Rhein Chemie employees produce and sell products worldwide to many segments of the rubber, plastics and lubricant industries. The company is headquartered in Mannheim, Germany. It has subsidiaries and production facilities in Europe, Asia and North and South America. Rhein Chemie is a wholly-owned subsidiary of the LANXESS Group, Leverkusen.
Mannheim, 28. March 2008
This news release contains forward-looking statements based on current assumptions and forecasts made by the management of Rhein Chemie Rheinau GmbH. 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 our sole stockholder LANXESS Deutschland GmbH and the estimates given here. These factors include those discussed in LANXESS AG’s reports to the Frankfurt Stock Exchange. LANXESS AG and Rhein Chemie Rheinau GmbH assume no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.