LANXESS Intends to Split Its High-performance Materials Business

On November 11, the German special chemicals company LANXESS announced that its high-performance materials (HPM) business unit will be transformed into an independent legal company structure, which is planned to be implemented in the first half of 2022.

LANXESS Performance Materials is one of the leading suppliers of high-performance plastics. These materials are mainly used in the automotive, electrical and electronic industries. In particular, electric vehicles are a promising application area for LANXESS plastics. LANXESS plastics are mainly used in car bodies, battery housings and charging infrastructure.

"The global market for new modes of travel is booming and is strategically rearranging itself-creating many innovative alliances and partnerships. In order to take full advantage of the growth opportunities in this market and be able to act flexibly, we will The business unit creates a separate legal structure," said Hubert Fink, a member of the management board of LANXESS AG.

The product portfolio of the LANXESS Performance Materials division includes engineering plastics polyamide and polybutylene terephthalate, as well as thermoplastic fiber composites. The business unit is characterized by a high degree of backward integration of its production processes. The business unit has approximately 1,900 employees in 14 locations around the world. Sales are around one billion euros.