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Lanxess Puts Strategic Investments On hold

8:20 AM MST | December 19, 2008 | Natasha Alperowicz

Lanxess, in response to the global economic crisis, is taking further steps to address the situation by postponing some of its capital projects, including a world scale butyl rubber plant in Singapore. These measures are in addition to Lanxess's recently announced plans to cut back production and temporarily shut down 23 of 45 manufacturing plants in Germany, affecting about 1,400 of Lanxess's staff. ""We have decided to put off some investment projects given the decline in demand for chemical products we are seeing throughout the world," says...

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