LANXESS Board of Management initiates Group-wide restructuring program
CologneJuly 24, 2014
As part of the realignment of LANXESS, the Board of Management has initiated a Group-wide restructuring program at its board meeting today. Talks about planned measures resulting from the program are now being held with the Supervisory Board and employee representatives.
Administrative structures and decision-making processes are to be streamlined. Customer and market orientation in the business units will be further improved.
At the beginning of May, as part of the publication of the first quarter 2014 results, LANXESS already announced that it is developing measures to reduce costs and increase competitiveness. LANXESS will provide detailed information about the restructuring program during the second half of this year.
LANXESS is a leading specialty chemicals company with sales of EUR 6.7 billion in 2023. The company currently has about 12,400 employees in 32 countries. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives and consumer protection products. LANXESS has achieved leading positions in the Dow Jones Sustainability Index and the MSCI ESG and ISS ESG ratings, among others, for its commitment to sustainability.
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 accepts any liability whatsoever arising directly or indirectly from the use of this document.
