LANXESS' High Performance Materials business unit to become legally independent
Specialty chemicals company LANXESS will transfer its High Performance Materials (HPM) business unit to an independent legal corporate structure.
HPM is one of the leading suppliers of high-performance plastics. The materials are used primarily in the automotive, electrical and electronics industries. Electromobility in particular is a promising field of application for the LANXESS plastics, which are used predominantly for car bodies, battery housings and charging infrastructure.
“The global market for new forms of mobility is developing very dynamically and is strategically rearranging itself – creating many innovative alliances and partnerships. In order to get the most out of the growth opportunities in this market and to be able to act flexibly, we will create a separate legal structure for the business unit,” said Hubert Fink, member of the Board of Management of LANXESS AG. LANXESS will begin implementation in the first half of 2022.
The portfolio of the HPM business unit includes the engineering plastics polyamide and polybutylene terephthalate, as well as thermoplastic fiber composites. The business unit is characterized by the high backward integration of its production processes.
The business unit employs around 1,900 people at 14 sites worldwide. Sales are in the low single-digit billion euro range.
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.
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