LANXESS AG (Cologne, Germany) and Wuxi South Petroleum Additive Co., Ltd. have signed a Memorandum of Understanding (MoU) to explore strategic cooperation aimed at strengthening supply chain resilience, regional manufacturing capabilities and customer support across China and the Asia-Pacific region.
The agreement was signed at LANXESS headquarters in Cologne, Germany, by representatives of both companies. The cooperation reflects both companies’ interest in strengthening supply capabilities and supporting customers across the Asia-Pacific region. The parties intend to evaluate opportunities for collaboration in selected lubricant additive value chains, combining LANXESS’ formulation expertise and market access with Wuxi South’s manufacturing and regional supply capabilities.
“Asia-Pacific is an important market for the lubricant industry and a key growth region for LANXESS,” Frederique van Baarle, Member of the Board of Management of LANXESS AG, said. “This MoU is part of our commitment to serve our customers with reliable, high-quality solutions.”
“Customers increasingly value local 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 strengthen our regional supply network and support future growth across China and the Asia-Pacific region.”
Wuxi South views the agreement as a framework for further 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 for customers throughout the region.”
The MoU establishes a framework for further discussions regarding technical, commercial and supply-chain cooperation.