LANXESS launches Group initiative for e-mobility

·	Group wants to further exploit market potential for e-mobility and battery technology
·	New management and realignment for Rhein Chemie business unit

Cologne – Specialty chemicals company LANXESS is aiming to further strengthen its market position in technologies relating to new mobility: In the future, all activities in this area will be managed by a Group initiative for e-mobility. The new strategy unit will be headed by Philipp Junge (44), currently head of the Rhein Chemie business unit, as of August 1, 2020.

“Modern mobility is one of the most dynamic growth sectors worldwide. LANXESS has a lot to offer here, from our high-tech plastics for electric vehicles to specialty chemicals for batteries. We want to expand this offering significantly, coordinate it more precisely and position it even stronger in the market,” explains Anno Borkowsky, member of the LANXESS Board of Management. 

The Group's high-performance plastics are used in electric vehicles, for example for lightweight car bodies or battery housings. They also have great potential in the infrastructure for e-mobility, such as charging stations, and in sensors, displays and control units for autonomous driving.

In addition, LANXESS is a leading manufacturer of numerous specialty chemicals that modern battery systems cannot do without, such as phosphorus chemicals, hydrofluoric acid and flame retardants. Furthermore, the Group is working on the commercial production of lithium, the key component of lithium-ion batteries. At its site in El Dorado, United States, LANXESS recently commissioned a pilot plant together with its partner Standard Lithium. The companies aim to use the plant to extract battery grade lithium from brine produced during the bromine production process at LANXESS.

Rhein Chemie: Focus on rubber additives

Jens-Hendrik Fischer (41) will be the new Head of the Rhein Chemie business unit, succeeding Philipp Junge. Fischer is currently responsible for the business with antioxidants and accelerators for the rubber industry within the LANXESS Advanced Industrial Intermediates business unit. It is planned that these products will be managed under the umbrella of Rhein Chemie, which already offers numerous specialty rubber additives. “Rhein Chemie would thus become the central business unit at LANXESS for products for the rubber industry,” says Borkowsky. 

LANXESS is a leading specialty chemicals company with sales of EUR 6.8 billion in 2019. The company currently has about 14,300 employees in 33 countries. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives, specialty chemicals and plastics. LANXESS is listed in the leading sustainability indices Dow Jones Sustainability Index (DJSI World and Europe) and FTSE4Good.

Cologne, 	July 14, 2020
idr		(2020-00053e)

Forward-Looking Statements
This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accept any liability whatsoever arising directly or indirectly from the use of this document.

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