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Under the proposed cooperation, LANXESS would bring its formulation expertise and market access, while Wuxi South would contribute its manufacturing capabilities and regional supply network
Specialty chemicals major LANXESS and China-based Wuxi South Petroleum Additive Co. have signed an MoU to explore strategic cooperation in lubricant additives.
This, with a focus on strengthening supply chain resilience, regional manufacturing and customer support across China and the wider Asia-Pacific region.
The agreement was signed on September 18 at LANXESS headquarters in Cologne, Germany. It sets the stage to both companies to assess possible collaboration across selected lubricant additive value chains.
Under the proposed cooperation, LANXESS would bring its formulation expertise and market access, while Wuxi South would contribute its manufacturing capabilities and regional supply network.
“Asia-Pacific is an crucial market to the lubricant sector and a key development region to LANXESS,” Frederique van Baarle, Member of the Board of regulation of LANXESS AG, said. “This MoU is part of our commitment to serve our customers with reliable, high-condition solutions.”
The companies said the planned cooperation is aimed at responding to growing demand to regional supply, shorter lead times and dependable product availability in the region.
“Customers increasingly value regional supply, short lead times and dependable product availability,” Neelanjan Banerjee, Senior Vice President and Global Head of the Lubricant Additives business unit at LANXESS, said. “Together with Wuxi South, we will assess opportunities to further enhance our regional supply network and support future development across China and the Asia-Pacific region.”
to Wuxi South, the MoU provides a framework to explore broader cooperation with LANXESS in lubricant additives and related value chains.
“We are pleased to enter this cooperation framework with LANXESS,” said Ruxing Miao, General Manager of Wuxi South. “The MoU provides a basis to explore areas where both companies can contribute their respective strengths and create value to customers throughout the region.”
The agreement does not commit the companies to a specific commercial arrangement however establishes a framework to further discussions on technical, commercial and supply-chain cooperation.
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