German specialty chemicals maker Lanxess AG, Leverkusen, announced today that it will invest 75 million euro ($92.7 million) to construct a new 90,000 m. tons/yr. plant that will produce polyamide resins.  The new plant is slated to come on stream in early 2014.

The plant will be sited in “direct vicinity” of the company’s caprolactam plant at Antwerp and will serve the company’s global compounding network for nylon materials.  A key target for the new polyamides is the global automotive industry and the E/E industry.

“This investment is yet another milestone on our way towards profitable growth, and a clear commitment to our Antwerp site, said Axel C. Heitmann, chairman of Lanxess. “High-tech plastics play a critical role in our global strategy.  Our plans for growth depend on innovations and technologies that support the global megatrends.  Activities therefore are focused on solutions for sustainable mobility.  Global demand for high-tech plastics is expected to rise by five to six percent each year through 2020.  The automotive industry is one of the main growth drivers for Lanxess plastics.”