Degussa plans new oil additives facility in Singapore

18-Feb-2005
Degussa AG announced plans for a new oil additives manufacturing facility in Singapore, scheduled to come on stream in 2007. The investment is in excess of 10 million euros. "This represents a further step in our expansion strategy for Asia", explained Degussa Management Board Chairman Prof. Utz-Hellmuth Felcht. The specialty chemicals company wants this region to account for 25 percent of the Group's turnover in the medium term. With this new facility the Specialty Acrylics Business Unit continues to expand its leading market position in high performance lubricant additives. It currently operates four production facilities in Europe and North America. In the future, Asian customers will benefit from an even faster and more individual local service. Asia is today the fastest growing market in the world for oil additives. "We intend to be a part of this growth", comments Dr. Hans-Peter Schaufler, Head of the Specialty Acrylics Business Unit. Research and development play an important role for the business unit and its RohMax Oil Additives business line. Therefore, as a next step in its Asian strategy, the business unit will shortly be opening a technical service laboratory in Shanghai.

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