Lanxess to be introduced to the public in early 2005
Lanxess, the company formed from the chemicals arm and some of the polymers activities of Bayer AG, will begin its independent operation from the beginning of 2005, according to the statement released by its press office.
A completely new company with some 20,000 employees, its own corporate structure and 2003 sales of €6.3 billion was created after the decision was taken in November 2003 to spin off these operations. It is expected that, once listed on the capital market, Lanxess will rank sixth among
Dr. Axel C. Heitmann, Chairman of Lanxess, says the company has three goals: independence, competitiveness and profitability.
The company has four segments, each of which already reports annual sales of well over €1 billion. The Performance Rubber segment specialises in solid rubber for the rubber and tire industries. Engineering Plastics focuses on the production of high-quality plastics for electrical and electronics appliances, furniture, sports and leisure applications and automotive engineering. The Chemical Intermediates segment comprises basic chemicals, intermediates for the pharmaceuticals and crop protection sectors and inorganic pigments for colouring concrete and coatings. Performance Chemicals includes material protection products, processing chemicals for leather, textiles and paper, ion exchange resins, polymer additives such as flame retardants.
Lanxess intends to step up internationalisation of its business. It already has 50 production sites and more than 50 companies in 21 countries. Asia and
The company says its consistent result-driven strategy is already bearing fruit. In the first nine months of this year sales increased 4.5% to €5 billion, up from €4.8 billion in the same period last year.
