Mannheim, Germany - Global sales for additives supplier Rhein Chemie Group in fiscal 2007 were Euro 295 million ($461.5 million), compared to Euro 302 million for 2006. Describing 2007 as "a successful year," the group attributed the sales drop mainly 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 of Mannheim, in a 28 March company statement on the year's results.
"The restructuring programme we initiated last year to strengthen the competitiveness of Mannheim as a location is making good progress," added Borkowsky. This Euro 7-million project involves construction of new plants and modernisation of existing facilities for specialities and products for the rubber industry, he said.
The company has been making its entire portfolio for the rubber industry in Qingdao, China, since 1999, and will start producing high-performance additives for the lubricants industry there this year. "We laid the foundation stone for the new production building in January. We plan to start production at the end of 2008," Borkowsky added.
About 850 Rhein Chemie employees produce and sell products worldwide to many segments of the rubber, lubricant, plastics and polyurethane industries, with 500 employees working at Mannheim. Rhein Chemie, with subsidiaries and plants in Europe, Asia and North and South America, is a wholly-owned subsidiary of Lanxess Group of Leverkusen, Germany.