LANXESS India bags two Awards – The “Excellence Award” and the “Udyog Rattan Award” from the Institute of Economic Studies

• LANXESS India Private Limited conferred with the “Excellence Award”
• Managing Director Dr. Joerg Strassburger with the “Udyog Rattan Award”

Online PR News – 23-July-2009 – – LANXESS India Private Limited, a leading specialty chemical company was conferred with the “Excellence Award” and the “Udyog Rattan Award” was presented to its Country Representative and Managing Director, Dr. Joerg Strassburger, by one of India's premier research institutes, the 'Institute of Economic Studies' (IES) at the Seminar on Current Economic Scenario. The awards were presented by Mr. Korn Dabbaransi, Former Deputy Prime Minister of Thailand at the award ceremony held on 20th July 2009 in Mumbai.

The “Excellence Award” was presented to LANXESS India in appreciation of its outstanding contribution to the country’s industrial development and the “Udyog Rattan Award” was presented to Managing Director Dr. Joerg Strassburger in recognition of his contributions towards Industrial development.

Commenting on his achievement, Dr. Joerg Strassburger said, “I feel highly privileged to receive this prestigious award. I humbly accept both the awards as an acknowledgement of the dedicated and relentless team effort of LANXESS employees in making LANXESS India a success in a short span of five years. I would like to thank IES for bestowing this honor.”

LANXESS has shown its commitment to the Indian industry by strengthening its presence in the country with a strategic growth approach. LANXESS has made its first acquisition in India with the take- over of Gwalior Chemical Industries Limited. It also has a new plant coming up in Jhagadia, Gujarat for its Ion exchange resins business unit as well as its rubber chemicals production which has been relocated from Thane in Maharashtra. LANXESS is looking to strengthen its foothold in the Indian chemical space and the Udyog Rattan Award and the Excellence Award is recognition of its efforts.

The Udyog Rattan Award and the Excellence Award are conferred by the Institute of Economic Studies, New Delhi, one among the country’s premier research institutes every year. The 'Institute of Economic Studies' was established in 1980 by a group of prominent economists, parliamentarians and industrialists. The organization works on studying various aspects of the economy and economic development. The institute closely monitors various facets of the economy and individual contribution of various companies and business leaders.

The previous recipients of this prestigious award include Vijay Mallaya, Chairman UB Group and Kingfisher Airlines, R Krishna Bajaj, H S Singhania, Chairman JK Tyre and Industries, Dr B K Modi, Chairman & President, Modi Group of Industries.

LANXESS is a leading specialty chemicals company with sales of EUR 6.58 billion in 2008 and currently around 14,600 employees in 23 countries. The company is represented at 44 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals.