GUANGZHOU: Germany-based Lanxess AG, a spin-off of Bayer AG and a leading supplier of chemicals, rubber and plastics, is ramping up investment in China, which it views as a major pillar of its "going Asia" initiative.

"Headquarters has listed the cities of Nanjing and Ningbo in East China as possible locations for a massive project for producing ion exchange resins, the investment of which will reach tens of millions of euros," Wang Yongli, president of Lanxess Group Greater China, told China Daily in an interview.

The facility will be one of Lanxess' ion exchange resins business' biggest investments, Wang said.

He said the two cities are top candidates because of their well-developed infrastructure, improving investment climate and promising market development prospect.

But Wang would not comment on the cities' chances of beating out other Asian centers.

He said that the company has invested heavily in production capacity and research and development in order to tap market potential.

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