(openPR) - Mumbai - German specialty chemicals company LANXESS India Private Limited has been honored with the “Excellence Award” and the “Udyog Rattan Award” by the 'Institute of Economic Studies' (IES). Dr. Joerg Strassburger, LANXESS India's Country Representative and Managing Director, received the awards from Mr. Korn Dabbaransi, Former Deputy Prime Minister of Thailand, at the Seminar on Current Economic Scenario held last month in Mumbai.

The “Excellence Award” was conferred to LANXESS India in appreciation of its outstanding contribution to India's industrial development and the “Udyog Rattan Award” was presented to Dr. Strassburger in recognition of his contributions towards industrial development.

Commenting on the awards, Dr. Joerg Strassburger said, “I feel highly privileged to receive these prestigious awards, which are acknowledgements of the dedicated and relentless team effort by LANXESS employees. I would like to thank IES for bestowing these honors on LANXESS.”

LANXESS has shown its commitment to the Indian industry by strengthening its presence in the country. LANXESS has made its first acquisition in India with the take- over of Gwalior Chemical Industries Limited. It is also building a production site in Jhagadia, Gujarat, which will have a Ion exchange resins plant and a rubber chemicals plant.

The Udyog Rattan Award and the Excellence Award are conferred by the Institute of Economic Studies, New Delhi. The Institute of Economic Studies was established in 1980 by a group of prominent economists, parliamentarians and industrialists. The organization works on studying various aspects of the economy and economic development. The institute closely monitors various facets of the economy and individual contribution of various companies and business leaders.

LANXESS is a leading specialty chemicals company with sales of EUR 6.58 billion in 2008 and currently around 14,600 employees in 23 countries. The company is represented at 44 production sites worldwide. The core business of LANXESS is the development, manu¬facturing 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 around 14,600 employees in 23 countries. The company is represented at 44 production sites worldwide. The core business of LANXESS is the development, manu¬facturing and marketing of plastics, rubber, intermediates and specialty chemicals. More information at www.lanxessgoesasia.com.

LANXESS Pte Ltd
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