A young company with strong roots
LANXESS is a global player with strong roots reaching as far back as 1863, the year Bayer was founded. Combining a long tradition with the dynamism of a young organization, LANXESS grew from a strategic realignment of the Bayer Group’s chemical and plastics businesses at the beginning of 2005.
Relive our fascinating history by clicking with the mouse along the time bar and enjoy an interactive trip through time.
Decision to realign the Group
The Supervisory Board of Bayer AG approves the comprehensive realignment of the Bayer Group proposed by the Board of Management of Bayer AG.
LANXESS is the name
Announcement of the name LANXESS by the Board of Management: a combination of “lancer” (Fr.: to launch) and “success”.
Presentation of the brand strategy
The clear logo and the striking corporate design emphasize the targeted approach. The slogan indeed summarizes the company’s mission concisely: “Energizing Chemistry”.
Annual Stockholders’ Meeting
The Annual Stockholders’ Meeting of Bayer AG approves the concept for strategic realignment.
LANXESS starts at the internal level
LANXESS introduces its new structure internally on July 1, 2004. An important milestone in the realignment of the Group is reached as a result. LANXESS can operate largely independently from now on. Information events about the launch of LANXESS are held in Leverkusen and in the country companies.
Decision: LANXESS is to obtain a stock market listing via a spin-off
The Board of Management and Supervisory Board of Bayer AG take the decision to obtain a stock market listing for LANXESS in early 2005 by means of a spin-off. Bayer AG shareholders are to receive LANXESS shares in the ratio 10:1.
Extraordinary Stockholders’ Meeting in Essen
99.66 percent of the voting capital present at the Extraordinary Stockholders’ Meeting of Bayer AG vote for the spin-off and takeover contract between Bayer AG and LANXESS AG proposed by the Board of Management and Supervisory Board.
Entry in the commercial register/spin-off
All Bayer shareholders receive LANXESS shares in addition to their existing Bayer shares. One LANXESS share is issued for every 10 Bayer shares.
LANXESS obtains a stock market listing
The shares are officially traded for the first time in the Prime Standard on the Frankfurt Stock Exchange on January 31, 2005.
First Financial Press Conference of LANXESS in Cologne
Dr. Axel C. Heitmann presents the 2004 results. All major figures are an improvement over the previous year’s.
First LANXESS Annual Stockholders’ Meeting
First LANXESS Annual Stockholders’ Meeting takes place in Düsseldorf.
LANXESS is included in the MDAX
The inclusion is effected by the "fast-entry rule" whereby companies can gain entry to the MDAX outside the regular review deadlines in March and September if their sales and market capitalization are among the 40 highest in the MDAX.
Joint Works Council and company management agree on a solidarity package
that paves the way for a rapid implementation of the restructuring process.
LANXESS presents the results for the second quarter of 2005
In addition to significant improvements to sales and results, a second package of restructuring measures is announced.
LANXESS announces the divestment of its fine chemicals business
From April 2006, the business unit is to operate as an independent company called Saltigo.
First portfolio adjustment about to be implemented / Results for the third quarter of 2005
LANXESS aims to sell Dorlastan fibers business to Japanese company Asahi Kasei Fibers.LANXESS presents the results for the third quarter of 2005 - Again, the results are an improvement, showing that the measures introduced have been taking effect.
LANXESS sells Paper business unit to Finnish Kemira Group
Another important portfolio adjustment made.
LANXESS launches expansion of ABS plastics production in Tarragona
Realignment of Styrenic Resins business unit in Europe on target.
LANXESS completes first year in business successfully / Third restructuring package
With the planned measures in the Polybutadiene Rubber, Butyl Rubber, Inorganic Pigments and Styrenic Resins business units, LANXESS aims to save around €50 million per year from 2009 onwards. The countries affected are the United States, Brazil, France and Belgium.
LANXESS steps up its Asia strategy
In China, a new plant goes on stream for high-tech plastics. In India, the capacity of the rubber additives facility is increased and further investments are made in plastics production. Strong growth in Indonesia, Thailand and Vietnam.
Second Annual Stockholders’ Meeting
Announcement that LANXESS is to divest its textile processing chemicals business by the end of the year.
LANXESS’s Styrenic Resins business unit renamed
With its new name Lustran Polymers the business unit aims to concentrate on its top brand, Lustran®, and focus on colored ABS and ABS specialties.
1st Media and Investor Day
Having almost completed its restructuring programs, LANXESS aims to grow through acquisitions and, by 2009, catch up with the industry in terms of profitability.
The new European head office of Lustran Polymers is inaugurated in Tarragona
With targeted investment of more than €20 million the competitiveness of the business unit is further strengthened.
LANXESS divests its textile processing chemicals business
All the activities of the Textile Processing Chemicals (TPC) business unit outside of North America are taken over by Dutch investor Egeria and business unit management.
LANXESS rearranges its Management Board
Dr. Axel C. Heitmann is confirmed as Chairman of the Board and Matthias Zachert as CFO for another five years. Rainier van Roessel is appointed as a new member of the Board.
First acquisition made
CISA-Activities of Dow Group in South Africa taken over.
Changes to the Management Board
Dr. Werner Breuers is appointed to the Management Board by the Supervisory Board effective May 15, 2007. Dr. Rainier van Roessel is named Labor Relations Director and assumes all responsibilities of Dr. Martin Wienkenhoever, who leaves the Group effective March 31.
On the way to becoming the world’s biggest supplier of chrome ore to the chemical industry
In the chrome ore mine operated by LANXESS in South Africa an additional delivery volume of 80 million metric tons can be tapped.
Inauguration of a development center for high-tech plastics in Wuxi, China.Chinaplas 2007 - LANXESS features prominently at Asia’s biggest plastics and rubber fair.
Third Annual Stockholders’ Meeting
Dr. Axel C. Heitmann, Chairman of the Management Board of LANXESS, confirms that the company will rigorously continue to pursue its course of growth. The payment of a dividend is proposed for the first time. At the end of the Stockholders' Meeting, Dr. Ulrich Koemm resigns from the LANXESS Management Board.
Chinas Premier Wen Jiabao visits the LANXESS production site in Wuxi
The background to the visit is the interest of the State Premier in companies that have achieved outstanding results in the areas of safety, health and environmental protection.
LANXESS presses ahead with butyl rubber expansion worldwide
In Sarnia in Canada the company has completed the first expansion stage for its local facility, thereby increasing the capacity for butyl rubber by 42 percent. A few days earlier the LANXESS Management Board Chairman Dr. Axel C. Heitmann had announced in Singapore that the company had specific plans for a new butyl rubber facility in Asia. At a cost of €400 million this is to be the biggest facility invested in in the company’s brief history.
Asia initiative: Plant to be built in India
LANXESS announces the construction of a new production plant for ion exchange resins in the Indian state of Gujarat. The EUR 30 million facility is due on stream in early 2010.
2nd Media and Investor Day
Following the divestment of the Lustran Polymers business unit, LANXESS is now positioning itself as a specialty chemicals group at the core of the chemical industry, with three segments: Performance Polymers, Advanced Intermediates and Performance Chemicals. The earnings targets for 2009 are now to be achieved a year earlier.
ABS plastics business divested
As of this date, the Lustran Polymers business unit is transferred to Ineos ABS, the newly established joint venture with British chemicals group INEOS. LANXESS will retain a 49 percent financial interest in the new company for two years.
LANXESS at K 2007
LANXESS presents new products and system solutions at its 800-square-meter stand at K 2007 in Düsseldorf - the world's most important fair for plastics and rubber. The specialty chemicals company demonstrates its commitment to innovation to key consumer industries, and hoghlights the fact that LANXESS is an expert development partner across all markets worldwide. Polymers play an important role in the company's portfolio. In 2006 they accounted for more than 50 percent of total sales.
LANXESS to acquire Petroflex chemicals group of Brazil
LANXESS is to acquire an interest of approximately 70 percent in Petroflex S.A, Brazil. Petroflex, a listed company based in Rio de Janeiro, is among the world's large-scale producers of synthetic rubber. Petroflex complements LANXESS's product portfolio and strengthens the company's position in one of the world's most important growth markets.
LANXESS strengthens business in central and eastern Europe
LANXESS is strengthening its commitment in central and eastern Europe: The Group has set up a sales company specifically for business in these growth markets. The new company LANXESS Central Eastern Europe s.r.o. has its headquarters in Bratislava in Slovakia and offices in Warsaw, Poland and Budapest, Hungary.
LANXESS to make record investment in Singapore
LANXESS is set to make the biggest single investment in its history in Singapore. A new production facility for synthetic rubber is to be built at the chemical park on Jurong Island. The specialty chemicals group has earmarked a record amount of EUR 400 million for this investment. From 2013, the site in Singapore will produce up to 100,000 tons of butyl rubber annually, making the LANXESS plant the largest facility of its type in Asia.
Acquisition of majority share in Petroflex completed
LANXESS has successfully completed the acquisition of an 70 % holding in Petroflex S.A., Latin America’s biggest rubber producer. The transaction took legal and economic effect on April 1, 2008. Petroflex complements LANXESS’S product portfolio and strengthens the company’s position in one of the world’s most important growth markets.
LANXESS to lower emissions of harmful gases
By 2012, LANXESS will have reduced emissions of greenhouse gases in Germany by around 80 percent compared with 2007. To achieve this target, the specialty chemicals company will enter into Germany's first industrial joint implementation project – an innovative instrument devised for carrying out climate protection projects. At the heart of the project is the construction of a second facility for reducing dinitrogen monoxide (N2O) – also known as laughing gas – at the LANXESS site in Krefeld-Uerdingen.
Kölnarena to be renamed the "LANXESS arena"
The Kölnarena – a major events location in the German city of Cologne – is to be named after the specialty chemicals group LANXESS AG. The company has signed an agreement to this effect with Kölnarena Management GmbH for a period of ten years. "As a company with deep roots in the region, we are proud to give our name to the Kölnarena. It is very well known in Cologne, in the State of North Rhine-Westphalia and indeed throughout Germany," said Axel C. Heitmann, Chairman of the Board of Management of LANXESS AG. The future LANXESS arena is by far the best known and the most frequently used of all comparable event arenas in Germany.
LANXESS makes first acquisition in China
With its first acquisition in China, specialty chemicals company LANXESS AG is expanding the Asian business of its Inorganic Pigments business unit. In Jinshan near Shanghai LANXESS is to acquire two production units from its previous cooperation partner Jinzhuo Chemicals Company Ltd, one of which it had already leased since 2007. With this acquisition LANXESS will expand its global production capacity for inorganic pigments by five percent. The facility in Jinshan is one of China’s largest and uses state-of-the-art and environmentally compatible production methods.
LANXESS will eliminate climate gas emissions almost completely at its Porto Feliz site
Specialty chemicals group LANXESS AG is building its own innovative, highly efficient cogeneration plant at its Brazilian site in Porto Feliz for the combined generation of steam and electricity. The new plant will operate with bagasse, the fibrous components of sugar cane that are left over from sugar production. Through the use of this renewable, environmentally friendly fuel, energy generation becomes completely CO2-neutral. When the new power plant comes into operation in 2010, LANXESS will be able to almost entirely eliminate its output of harmful gases at this site.
Petroflex Takeover Completed
The integration of the Petroflex group is proceeding on schedule. After LANXESS added to the existing 70 percent interest by acquiring a further 27 percent of Petroflex shares under the takeover offer for the outstanding stock, Petroflex has been delisted from the stock market. The so-called squeeze-out of the remaining stockholders has been completed.
LANXESS establishes strong presence in Russian and CIS markets
LANXESS AG officially launched its new, independent sales company in Moscow to manage the company's business in Russia and other countries of the Commonwealth of Independent States (CIS). OOO LANXESS will primarily be marketing high-performance rubber, chemical and plastic products. “Our commitment to Russia represents a major step in the long-term growth strategy of our company, especially in the BRIC countries, which already account for about 15 percent of Group sales”, said Axel C. Heitmann, Chairman of the Board of Management.
100 years synthetic rubber
In 1909, Fritz Hofmann, who was employed by “Elberfelder Farbenfabriken vorm. Friedrich Bayer & Co.” received the patent for the 'industrial production of synthetic rubber'. His revolutionary invention mobilized the world and our everyday lives today would be unimaginable without it. LANXESS is taking Hofmann's heritage into a successful future with a portfolio of over 100 types of synthetic rubber. To honor his invention LANXESS is planning a whole range of activities at it’s rubber sites around the world.
Annual Stockholders' Meeting in the LANXESS arena
On May 7, about 2.500 stockholders came to Germany’s largest event hall. For the first time, the LANXESS arena acted as venue for the Annual Stockholders' Meeting. The LANXESS arena is by far the best known and the most frequently used of all comparable event arenas in Germany.
LANXESS underpins BRIC strategy with two acquisitions in Asia
LANXESS will acquire the chemical businesses and assets of stock market listed Indian company Gwalior Chemical Industries Ltd. LANXESS will also acquire the business and production assets of Chinese-based Jiangsu Polyols Chemical Co. Ltd. These acquisitions in India and China are further milestones in our company’s long-term growth strategy in the BRIC countries,” said Axel C. Heitmann, Chairman of LANXESS`s Board of Management.
LANXESS celebrates rubber anniversary
As the world’s leading manufacturer of high-performance rubber, LANXESS is celebrating the centenary of synthetic rubber’s invention by the chemist Fritz Hofmann by holding a high-profile scientific colloquium on Saturday, September 12. Over 400 guests from 18 nations attended the event, which was held in the Gürzenich Banqueting Hall, to learn more about the latest innovations, the future possibilities and the market potential of this versatile material.
ICIS names LANXESS ‘Company of the Year’
“The ICIS Company of the Year Award goes to LANXESS for its outstanding financial performance in a challenging 2008,” said Joseph Chang, Global Editor of ICIS Chemical Business. The Business magazine selected LANXESS for this award on the grounds that the company increased net profit by 53 percent to EUR 171 million on nearly flat sales of EUR 6.58 billion in 2008, despite a sharp drop in fourth quarter demand. In addition, its management and workforce reacted promptly and effectively to the downturn, and the company achieved its growth and financial targets over the course of 2008 a year ahead of plan.
Ground-breaking ceremony for new chemical plant
Specialty chemicals group LANXESS AG is building a new facility for manufacturing membrane filters for water treatment at its site in Bitterfeld. LANXESS is investing a total of EUR 30 million in this pioneering project.
Five years on the Stock Exchange
On February 1, 2010, specialty chemicals group LANXESS will mark the fifth anniversary of becoming a listed company. Some 14,600 employees working at LANXESS sites around the globe will celebrate the day the group was first listed on the Frankfurt Stock Exchange. The first price quoted for LANXESS shares on January 31, 2005 stood at EUR 15.75. Five years later, on February 1, 2010, the opening price was EUR 27.42.
New Jhagadia site up and running
LANXESS has completed the first phase of construction of its new site in Jhagadia, Gujarat state, India. The production of the rubber chemicals plant was started up, as planned. The plant will supply the global rubber and mineral oil additive market as well as the rapidly growing Indian tire and rubber industry with high-quality antioxidants belonging to LANXESS’ Vulkanox® brand.
Good for the climate
Worldwide, LANXESS has reduced its direct emissions of climate gases by more than 50 percent. One milestone is the new cogeneration power plant at the Porto Feliz site in Brazil.
Partnership in China
LANXESS and Taiwan’s TSRC Corporation will enter into a 50:50 joint venture in Greater China. The two companies are jointly investing 50 million USD in a new plant that will produce Nitrile Rubber (NBR).
LANXESS breaks ground for most modern rubber plant in Asia
The New state-of-the-art butyl rubber production plant on Jurong Island, Singapore requires an investment of up to EUR 400 million and will provide a capacity of 100,000 tons per annum. Production is expected to start in the first quarter of 2013.
LANXESS launches series of Rubber Days
LANXESS is launching a series of international rubber conferences. The kick-off event is the rubber conference in Macau, China, on June 28 and 29, 2010. Similar conferences will then be held in Brazil and India in September and December. “In Asia and Latin America, rubber plays a decisive role for the competitive development of these regions' booming economies,” says Axel C. Heitmann, Chairman of the Board of Management of LANXESS.
LANXESS Media Day 2010
LANXESS sets ambitious growth target: The specialty chemical company announced today its goal to increase its leading earnings indicator by roughly 80 percent in the coming five years. The specialty chemicals company is targeting EBITDA pre exceptionals of approximately EUR 1.4 billion in 2015 and confirmed its forecast of roughly EUR 800 million EBITDA pre exceptionals in 2010. LANXESS plans to achieve its mid-term earnings target through a dual-track growth strategy of organic and external growth. Organic growth will play the more dominant role.
LANXESS at K 2010
“Innovations in Polymers Energized by LANXESS” is the specialty chemical company’s slogan for the international K 2010 plastics fair in Dusseldorf. "We provide highly effective materials, processes and technologies in responses to the demands of global megatrends and our most important markets. We are also a creative development partner for the associated key industries,” explained Dr. Werner Breuers, a member of the Board of Management of LANXESS AG.
LANXESS starts up new plant for ion exchange resins in India
On December 2, 2010, the specialty chemicals group opened Asia’s most state-of-the-art plant for ion exchange resins in India. The new plant was constructed over a period of two years in the chemical park in Jhagadia in the Indian state of Gujarat. Around 200 employees from the Ion Exchange Resins (ION) business unit manufacture products for industrial water treatment for the semi-conductor and pharmaceutical industries, the food sector and the power industry.
Largest Leather Chemicals investment in China ever
LANXESS will invest about EUR 30 million in a plant for leather chemicals to be built in Changzhou, Jiangsu province, China. This is the single largest investment by the company’s Leather Chemicals business unit to date in China. Approximately 150 new jobs will be created through this investment.
LANXESS to acquire DSM Elastomers
LANXESS and Dutch company Royal DSM N.V. have reached an agreement in principle involving the sale of DSM Elastomers to LANXESS for EUR 310 million on a cash and debt-free basis. The transaction is subject to approval from antitrust authorities. Closing is expected in the first months of 2011. DSM Elastomers produces the synthetic rubber ethylene propylene diene monomer (EPDM) under the brand name Keltan.
LANXESS to acquire Darmex S.A., Argentina
Rhein Chemie business unit has acquired Argentina-based Darmex S.A. – a leading manufacturer of release agents and curing bladders for the tire industry. This acquisition is part of LANXESS' activities in Latin America and strengthens its standing as the world’s leading synthetic rubber company.
LANXESS acquires Syngenta’s Material Protection business
LANXESS has agreed to acquire the Material Protection business of Switzerland’s Syngenta. As a result, the German specialty chemicals company will become one of the leading suppliers of biocides for construction materials.
LANXESS completes acquisition of DSM Elastomers
The specialty chemicals group has successfully completed the acquisition of DSM Elastomers. DSM Elastomers produces the synthetic rubber ethylene-propylene-diene monomer (EPDM) under the brand name Keltan.
LANXESS to relocate to Cologne
The specialty chemicals group will transfer its corporate headquarters from Leverkusen to the former Lufthansa headquarters on Deutzer Freiheit in the second half of 2013. This means that LANXESS will in the future steer its global business from Cologne.
LANXESS selects Singapore as site for world’s largest Nd-PBR plant
The German specialty chemicals company has selected Singapore as the site for its new neodymium polybutadiene rubber (Nd-PBR) plant and plans to invest roughly EUR 200 million in a 140,000 metric tons per annum facility on Jurong Island Chemical Park. The facility will be the largest of its kind in the world. About 100 jobs will be created. The plant is expected to start up in the first half of 2015.
New chemical plant for water technology in Bitterfeld
LANXESS has inaugurated a new chemical plant for membrane filtration technology for water treatment at its site in Bitterfeld. "With its new membrane filtration products LANXESS is helping to reduce global water problems,” said Axel C. Heitmann, Chairman of the Board of Management of LANXESS AG.
First bio-based EPDM rubber in the world
LANXESS is re-engineering parts of its plant in Triunfo, Brazil, in order to produce EPDM rubber from bio-based ethylene. This represents the world’s first production of bio-based EPDM rubber which will be named Keltan Eco.
LANXESS pioneering high-performance rubber
LANXESS will be underlining its status as a premium supplier of high-performance rubber to the tire industry at its first-ever Rubber Days in Japan and South Korea.
Former Lufthansa building renamed “LANXESS Tower”
LANXESS will be able to welcome employees, customers and guests to the “LANXESS Tower” from the middle of 2013. This is the new name chosen for the company's future headquarters on Deutzer Freiheit in Cologne.
LANXESS expands Jhagadia site
LANXESS is continuing to expand its Indian production site in Jhagadia, Gujarat state. The specialty chemicals group is underlining its commitment to the subcontinent by inaugurating three new plants in January 2012 to serve the growing India market. LANXESS has invested over EUR 70 million and created roughly 300 new jobs at the site.
Record earnings for LANXESS
The specialty chemicals company continued on a path of growth in 2011, with record sales and earnings figures. EBITDA pre exceptionals improved by 25 percent to EUR 1,146 million, exceeding EUR 1 billion for the first time.
LANXESS investing in its French production site for tire rubbers
LANXESS Port Jérôme site celebrates its 50th anniversary in 2012. The Group plans to invest some EUR 30 million by 2015 to further enhance productivity and energy efficiency. LANXESS produces the high-performance rubbers neodymium-polybutadiene (Nd-PBR) and solution styrene-butadiene (SSBR) at the site. These rubber grades are used primarily for the production of “green tires”.
LANXESS sets its sights on Turkey's growing market
LANXESS plans to expand further in the Turkish market. It takes one important step in this direction by officially opening its new subsidiary in Istanbul.
LANXESS to build world’s largest EPDM plant in China
LANXESS is building the world’s largest plant for EPDM synthetic rubber in China. The German specialty chemicals company is investing EUR 235 million in the plant in Changzhou (Jiangsu Province). This is the largest investment the company has made in China to date.
LANXESS breaks ground for world’s largest Nd-PBR plant in Singapore
LANXESS is investing roughly EUR 200 million in a 140,000 metric tons per annum facility on Jurong Island. The facility will be the largest of its kind globally and will serve the growing market for “Green Tires”, especially in Asia. About 100 jobs will be created. The plant is expected to start up in the first half of 2015.
LANXESS announces new mid-term goal
LANXESS is announcing a new mid-term goal for its leading earnings indicator – EBITDA pre exceptionals – of EUR 1.8 billion in 2018. The specialty chemicals company is strategically well-positioned to continue on its established growth path and plans to achieve its previously established goal of EUR 1.4 billion EBITDA pre exceptionals in 2014, a year ahead of schedule.
LANXESS now listed in German benchmark index DAX 30
The Stock Indices Working Group of Deutsche Boerse AG decided on September 5, 2012, to include LANXESS AG in the German benchmark index DAX 30. Since September 24, 2012, the LANXESS share is officially listed.
LANXESS sets global corporate target for the proportion of women in management
Proportion of women in mid-level and upper management to increase to 20 percent by 2020 / Measures to facilitate work/life balance
LANXESS presents innovations for the mobility of the future for the first time in Prague
Mobility Days: two-day conference of experts shows sustainable solutions for the tire and automotive industries / High-profile speakers from the business and scientific communities
Opening in Changzhou
LANXESS has started up on schedule a leather chemicals plant in Changzhou Yangtze Riverside Industrial Park. With a capacity of up to 50,000 metric tons per year, the plant is the largest of its kind in China and will strengthen LANXESS’ position as a sustainable leather chemicals provider in the local market.
Rhein Chemie Opening Brazil
Rhein Chemie has invested roughly EUR 10 million in a new production facility in Porto Feliz, Brazil, to manufacture Rhenoshape high-performance curing bladders and Rhenogran predispersed, polymer-bound chemicals.
Butyl Opening Singapore
At an official ceremony attended by around 400 guests, LANXESS inaugurated its new butyl rubber plant on Jurong Island in Singapore on schedule.
LANXESS opens first production facility in Russia
In the new plant at the Lipetsk site, LANXESS subsidiary Rhein Chemie manufactures polymer-bound rubber additives for the markets in Russia and the Commonwealth of Independent States (CIS), primarily for the automotive and tire industries.
LANXESS now managing its global business from Cologne
LANXESS AG has successfully completed the move of its Group headquarters from Leverkusen to Cologne.The new Group headquarters unites all of the company’s central management functions under one roof for the first time.
LANXESS brings expanded cresol plant on stream
LANXESS has completed the expansion of its cresol production plant in Leverkusen, Germany, and has now begun operating a newly constructed reaction system as well as a second 46-meter-high distillation column. The expansion increases capacity for this high-quality intermediate for the global market by some 20 percent.
Zachert becomes CEO
Matthias Zachert suceeds Axel C. Heitmann as LANXESS AG's new CEO.
LANXESS opens plant for high-tech plastics in Brazil
LANXESS has opened its new plant for high-tech plastics in Porto Feliz in Brazil. The specialty chemicals group has invested around EUR 20 million in this plant, which has an annual capacity of 20,000 tons. Up to 50 highly-qualified jobs have been created.
LANXESS starts reorientation
Structures and decision-making processes are to be improved in the group’s administration. Orientation to customers and the market will be further developed in the divisions. In addition, profitability at the individual locations will be analyzed. What is more, strategic alliances to reinforce the rubber division’s competitive ability and to bring the company back into equilibrium are being reviewed.
10% capital increase successfully completed
The new 8,320,266 shares of the company have been placed with international institutional investors at a price of EUR 52.00 per share. This placement has led to gross income of around EUR 430 million.
LANXESS takes high-tech plastic plant in Antwerp into operations
The specialty chemicals group LANXESS has gone live with its new plant for polyamide plastics in Antwerp, Belgium as planned. The world-scale plant for polyamide plastics can process around 90,000 tons per year, and represents an investment volume of EUR 75 million.
LANXESS consistently drives reorientation
The specialty chemicals group has defined its three-tier program “Let’s LANXESS Again” in this regard. This is broken down into the following areas: Competitiveness for the business and management structure”, “Operating competitiveness” and “Competitiveness of the business portfolio”.
LANXESS has 10 Business Units with immediate effect
LANXESS has merged several divisions with effect from 1 January 2015, reducing their total from 14 to 10. The BUs BTR and PBR will be combined in the Business Unit Tire & Specialty Rubbers (TSR), and the BUs HPE and KEL will form the BU High Performance Elastomers (HPE). The specialty chemicals product line at RUC, the BUs FCC and RCH will be merged to form the new Business Unit Rhein Chemie Additives (ADD). The product lines for age protection products and accelerators in the RUC BU will be transferred to the BU All.
Pontzen becomes new CFO
Michael Pontzen suceeds Dr. Bernhard Düttmann as LANXESS AG's new CFO.
New EPDM rubber plant in Changzhou officially inaugurated
Inauguration of LANXESS´s new EPDM (ethylene propylene diene) rubber plant in Changzhou, China. The plant will produce 10 different premium grades of EPDM rubber tailored to the requirements of customers in China and elsewhere in Asia.
LANXESS inaugurates new Nd-BR plant in Singapore
LANXESS officially inaugurated its new neodymium butadiene rubber (Nd-BR) plant in Singapore.
LANXESS and Saudi Aramco create joint venture for synthetic rubber
LANXESS and Saudi Aramco plan to establish a joint venture for synthetic rubber signed in a detailed agreement. LANXESS and Saudi Aramco subsidiary, Aramco Overseas Company, will each hold a 50 percent interest in the joint venture, with annual sales of approximately three billion Euro in 2014.
Appointment of Hubert Fink to the Board of Management
On the Board he will hold responsibility for the Advanced Intermediates segment with the Advanced Industrial Intermediates and Saltigo business units and for the High Performance Materials business unit; he will also assume responsibility for the Global Procurement & Logistics group function and the Production, Technology, Safety and Environment (PTSE) group function, which combines all production-related services.
Saltigo invests EUR 60 million
LANXESS is investing around EUR 60 million in the expansion of the Leverkusen production facilities of Saltigo GmbH – a leading supplier in the field of exclusive synthesis. The biggest single investment in Saltigo since it was founded as a fine chemicals company in 2006 should sustainably strengthen the LANXESS subsidiary’s market position. This is why the LANXESS subsidiary is significantly expanding its multi-purpose production facilities in the Central Organics Pilot Plant (ZeTO).
LANXESS’ first production line for tire curing bladders in Asia
The LANXESS Rhein Chemie Additives business unit has opened a production line for Rhenoshape tire curing bladders at its Chinese production site in Qingdao. By the investment of a low single-digit million euro amount LANXESS will expand its global production capacity for these high-performance products in a first step by around 10 per cent.
LANXESS takes production line in USA into operation
LANXESS has started up a second production line for high-performance plastics compounding at its facility in Gastonia, North Carolina, as planned. The new line represents an investment of about USD 15 million and doubles the site’s production capacity from 20,000 to 40,000 metric tons annually.
Ten years of Saltigo
On April 1, 2016, Saltigo GmbH, a wholly-owned subsidiary of specialty chemicals group LANXESS, is celebrating its 10th anniversary. At the same day, Torsten Derr (left), currently Head of the Board of Management’s Commercial & Supply Chain Excellence initiative, will take over as Chief Executive Officer of Saltigo. Wolfgang Schmitz is retiring after a 41-year career in the chemical industry.
ARLANXEO joint venture launches
LANXESS and Saudi Aramco have completed the formation of their 50-50 joint venture for synthetic rubber, ARLANXEO. With the closing of the transaction, a 50 percent share in the joint venture ARLANXEO was transferred to Dutch Saudi Aramco subsidiary, Aramco Overseas Holdings Coöperatief U.A. In return, LANXESS received cash proceeds of around EUR 1.2 billion.
LANXESS takes over Chemours‘ Clean and Disinfect specialties business
LANXESS is expanding its portfolio of material protection products by taking over the Clean and Disinfect business of US-based chemical company Chemours. The business comprises active ingredients as well as specialty chemicals used especially in disinfectant and hygiene solutions. The enterprise value of around EUR 210 million will be paid by LANXESS from existing liquidity. Closing is expected in the second half of 2016. The transaction is still subject to approval from the relevant antitrust authorities.
LANXESS closes acquisition
LANXESS closed the acquisition of the Clean and Disinfect business of U.S.-based chemicals company Chemours on August 31, 2016. All relevant antitrust authorities have approved the transaction.
LANXESS announces plan to acquire Chemtura
LANXESS announced plans to acquire US-based Chemtura Corporation (NYSE: CHMT), one of the major global providers of high-quality flame retardant and lubricant additives. With the largest acquisition in its history, LANXESS is building on its own additives portfolio and will become one of the world’s major actors in this growing market. The companies have signed a definitive acquisition agreement.
LANXESS successfully completes acquisition of Chemtura
LANXESS has successfully completed the acquisition of U.S. company Chemtura, one of the world’s leading suppliers of flame retardant and lubricant additives, earlier than originally expected effective April 21, 2017. All required regulatory authorities have cleared the transaction.