Sean Quinn's Quinn Group is to invest €150m in the construction of a new MMA (methylmethacrylate) production plant at the chemical site in Leuna, near Leipzig in Germany through its subsidiary Quinn Chemicals GmbH.

At full capacity, the new plant will produce approximately 100,000 tonnes of MMA a year for the world market. Construction of the new plant will begin shortly with production scheduled to begin in the first quarter of 2008.

MMA is the basic material used in the production of plastics (polymethylmethacrylate; PMMA). PMMA is used in many different products including glazing, sanitary products, lightning, display, and household goods. It is also used in paints, coatings and adhesives.

'The technology being deployed in this project will be a first for Europe and is destined to have a significant positive impact on the sector in general,' commented Sean Quinn.