OREANDA-NEWS.  Cologne-based synthetic rubber manufacturer Lanxess will spend €60mn ($65.2mn) to add two new production lines at its Saltigo plant in Leverkusen, primarily for agrochemicals.

Construction of the new units is slated to begin next year and should be complete by 2017.

The plan is part of a larger capital program to invest €400mn ($435mn) in new growth projects, including a previously announced joint venture with Saudi Aramco to produce synthetic rubber.

Lanxess reported sales in its performance polymers segment fell 6.6pc year over year to €976mn

($1.06bn), its advanced intermediates segment saw a 7.6pc decline in sales from last year to €440mn ($478mn), and sales of performance chemicals rose 2.9pc from year-ago levels to €524mn ($569mn).

In performance chemicals, prices of its materials were little changed and volumes fell, but the company benefited from stronger currency.