Lanxess to earmark investment outlay of €1 bln for global expansion

German chemicals group Lanxess AG plans to invest €1 bln over the next three years on global expansion through new plants and capacity expansions. Price volatility in the petrochem feedstock market will persist, and prices will remain high. Lanxess' policy to pass on higher raw material prices into the market in a timely manner has speeled success for the company.