(openPR) - German specialty chemicals company LANXESS has signed a letter of intent with the China Petroleum and Chemical Industry Association (CPCIA) to strengthen existing ties. Both parties have agreed to cooperate closely in the future on issues such as policies, development planning, environmental protection legislation and future trend analysis in the chemical industry.

Speaking at the signing ceremony on November 16, 2009, Dr. Rainier van Roessel, Management Board Member of LANXESS AG remarked: “LANXESS believes in using its international experience, innovative technologies and principles of sustainable development to help meet the most serious challenges affecting water, energy and the environment in China.”

Dr. van Roessel stressed the importance of the chemical industry to the local economy in both China and Germany, and added: “I am convinced that we can share experiences as well as resources through our cooperation with CPCIA, thus creating a win-win situation for both partners.”

“We are dedicated to serving the development of China’s petroleum and chemical industry by providing services for foreign enterprises in China,” commented CPCIA Chairman Li Yongwu. He pointed out that the challenges, which the China petroleum and chemical industries face today, are very similar to those their Western counterparts had to deal with in the past. “We believe that through this cooperation, we can learn from each other and contribute to the development of the industry.”

The CPCIA was created from the former State Administration of Petroleum and Chemical Industries (SAPCI) in April 2001 as the leading authority on issues related to China's chemical and petrochemical industrial development. LANXESS joined the CPCIA at the start of this year.

LANXESS is a leading specialty chemicals company with sales of EUR 6.58 billion in 2008 and currently 14,335 employees in 23 countries. The company is represented at 46 production sites worldwide. The core business of LANXESS is the development, manu­facturing and marketing of plastics, rubber, intermediates and specialty chemicals. More information at www.lanxessgoesasia.com.

Forward-Looking Statements
This news release may contain forward-looking statements based on current assumptions and forecasts made by LANXESS AG management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

LANXESS is a leading specialty chemicals company with sales of EUR 6.58 billion in 2008 and currently 14,335 employees in 23 countries. The company is represented at 46 production sites worldwide. The core business of LANXESS is the development, manu­facturing and marketing of plastics, rubber, intermediates and specialty chemicals. More information at www.lanxessgoesasia.com.

Maggie Tan
Corporate Communications
LANXESS Pte Ltd
9 Benoi Sector, Singapore 629844
Direct   (65) 6725 5821
Fax      (65) 6264 5329
Email   maggie.tan@lanxess.com
Web: www.lanxess.com/ , www.lanxessgoesasia.com/