• Production capacity of light-color aminic antioxidants for the lubricants industry to be increased by 2022;
• LANXESS is investing in its Taiwan site;
• Investment strengthens supply chain resiliences in Asia, USA and Europe.
The specialty chemicals company is investing an upper single-digit million Euro amount to expand its facility in response to growing demand in APAC and further regions. The additional volumes are expected to be available by end of 2022.
“We have seen rapid market growth in aminic antioxidants in the recent months and years,” says Martin Saewe, Head of LANXESS’s Lubricant Additives Business (LAB). “With our strategically located three assets in Canada, Italy and Taiwan and our backwards integration into the key raw material, we stand for supply resilience in the industry. We intend to use the additional capacity to strengthen our market position and to grow with our customers.”
Veronika Sauer, Head of Marketing Lubricant Additives, says “To be ahead of the curve, we continue to develop safer, more sustainable, and higher performing antioxidants that are capable to meet changing market requirements. We are evaluating to offer some of these from our Taiwan site as well”.
LANXESS markets its aminic antioxidants under the brand name Naugalube.The investment at its Taiwan site will support globally harmonized specification of its flagship product Naugalube 438L all sites will produce the antioxidant in light color. The liquid antioxidant is used in a broad range of transportation and industrial lubricants. With excellent high temperature performance, Nauglaube 438L reduces oil oxidation, prolongs lubricant life and extends service intervals.
LANXESS (lanxess.com) is a leading specialty chemicals company with sales of EUR 6.8 billion in 2019. The company currently has about 14,400 employees in 33 countries. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives, specialty chemicals and plastics. LANXESS is listed in the leading sustainability indices Dow Jones Sustainability Index (DJSI World and Europe) and FTSE4Good.
This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors, nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accepts any liability whatsoever arising directly or indirectly from the use of this document.