Lanxess Restructures Following Divestment Of Lustran Polymers
Germany-based Lanxess AG is set to
reposition itself next month as a specialty chemicals group following the transfer of its Lustran
Polymers commodity plastics business unit to the England-based Ineos Group. Initially, the two
companies will form a joint venture, with Ineos assuming a 51-percent stake in exchange for a
payment of 35 million euros ($49.5 million). This step will occur by the end of September. It is
expected Ineos will make a second payment and will assume 100-percent ownership of the joint
venture within two years.
The company will reorganize its remaining 13 business units into three segments — Performance Chemicals, Advanced Intermediates and Performance Polymers — starting in October 2007.
The Performance Chemicals segment will focus on specialty products, and will comprise the Functional Chemicals, Inorganic Pigments, Ion Exchange Resins, Leather, Material Protection Products, Rhein Chemie and Rubber Chemicals business units.
The Advanced Intermediates segment, formerly known as Chemical Intermediates, will include the Basic Chemicals and Saltigo business units.
The Performance Polymers segment will comprise the Butyl Rubber, Polybutadiene Rubber, Semi-Crystalline Products and Technical Rubber Products business units. The Engineering Plastics segment, formerly part of the Semi-Crystalline Products unit, will no longer exist.
“Our place is as a specialty chemicals group at the core of the chemical industry,” said Axel C. Heitmann, chairman of Lanxess’s Management Board. “This is where we have the best expertise, already occupy leading market positions, have an excellent customer base, operate close to the final markets and can exploit the advantages of our global asset network.”
September 25, 2007
The company will reorganize its remaining 13 business units into three segments — Performance Chemicals, Advanced Intermediates and Performance Polymers — starting in October 2007.
The Performance Chemicals segment will focus on specialty products, and will comprise the Functional Chemicals, Inorganic Pigments, Ion Exchange Resins, Leather, Material Protection Products, Rhein Chemie and Rubber Chemicals business units.
The Advanced Intermediates segment, formerly known as Chemical Intermediates, will include the Basic Chemicals and Saltigo business units.
The Performance Polymers segment will comprise the Butyl Rubber, Polybutadiene Rubber, Semi-Crystalline Products and Technical Rubber Products business units. The Engineering Plastics segment, formerly part of the Semi-Crystalline Products unit, will no longer exist.
“Our place is as a specialty chemicals group at the core of the chemical industry,” said Axel C. Heitmann, chairman of Lanxess’s Management Board. “This is where we have the best expertise, already occupy leading market positions, have an excellent customer base, operate close to the final markets and can exploit the advantages of our global asset network.”
September 25, 2007
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