Legally Independent Lanxess Divests its High-Performance Materials Business Unit
Lanxess has decided to divest its High-Performance Materials Business Unit to an independent legal corporate structure. The unit is claimed to be one of the leading suppliers of high-performance plastics which are used in the automotive, electrical and electronics industries. In the background of new forms of mobility developing rapidly across the global market, the company intends to establish a separate legal structure for the business unit in order to optimize its growth opportunities.
Cologne/Germany – 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. 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-dollar range.