Projecting a major developmental potential despite the global economic crisis, Specialty chemicals group LANXESS AG recently launched its new, independent sales company in Moscow to manage the company's business in Russia and other countries of the Commonwealth of Independent States (CIS). The new office will be located in The Federation Tower and will primarily be marketing high-performance rubber, chemical and plastic products. Our commitment to Russia represents a major step in the long-term growth strategy of our company, especially in the BRIC countries, which already account for about 15 percent of Group sales", said Axel C. Heitmann, Chairman of the Board of Management.
Besides, the company's wholly-owned subsidiary Rhein Chemie plans to set up near the city of Nizhny Novgorod, east of Moscow, a production facility that will produce polymerbound additives and release agents for the rubber processing and tire industry as of mid-2010. LANXESS is also close to finalizing a cooperative research agreement with RAS - one of the world's most distinguished scientific institutions founded over 285 years ago. Both parties aim to actively exchange information on scientific trends and innovative research developments, which will be of mutual benefit.