Rhein Chemie announced that it has ended FY 2008 with worldwide sales of EUR 281 million, down 5% compared to EUR 295 million in FY 2007. “Rhein Chemie performed very well in the first three quarters of 2008. This was marred by a significant fall in sales in the fourth quarter due to the general economic crisis,” said Dr. Anno Borkowsky, CEO and President of Rhein Chemie in a press release issued March 31, 2009. The marked downturn in the automotive industry had a particularly heavy impact on the company’s business.
Despite the difficult economic conditions, Rhein Chemie is pursuing expansion plans. At the end of 2008, new production facilities were started up as planned at the company’s Mannheim headquarters and in Qingdao, China. The investment for both projects amount to around EUR 12 million.
Rhein Chemie has been manufacturing its Rhenogran product line at its new production facility in Mannheim since the end of last year. This line consists of polymer-bound rubber chemicals that are used in the manufacture of tires and seals, for example, and improve the processing and quality of the end product.
At the end of 2008, the newly established company Rhein Chemie LOA (Qingdao) Ltd. began production of customized products and additive formulations for industrial lubricants in the eastern Chinese port of Qingdao. The new production facility includes a technical laboratory, where the company can perform a full range of key tests for its Asian customers. The company has been producing additives and service products for the rubber processing industry in Asia at its Rhein Chemie (Qingdao) Ltd. joint venture for the past ten years.