LANXESS funds pensions with EUR 100 million
- Group-wide pension funding status improves to around 60 percent
- Safeguarding company pension scheme
Specialty chemicals company LANXESS is increasing its German pension plan assets by EUR 100 million. The pension provisions, which amounted to EUR 1.135 billion at the end of the second quarter of 2020, are reduced accordingly. The Group-wide funding status of pension obligations improves from around 56 percent to around 60 percent with this transaction.
“We are again adding to our pension assets in order to further safeguard our company pension scheme. Future-proof pensions for our employees are of great importance to us,” said Michael Pontzen, Chief Financial Officer of LANXESS.
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 accepts any liability whatsoever arising directly or indirectly from the use of this document.
