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Lanxess

German chemical company

Field	Value
name	Lanxess AG
logo	LanXess-Logo.svg
type	Aktiengesellschaft (Public)
traded_as
predecessor	Bayer Chemicals
foundation
location_city	Cologne
location_country	Germany
key_people
industry	Chemicals
products	polymers, intermediates and Specialty chemicals
revenue	€7.2B (2018)
operating_income	€464 million (2016)
net_income	€192 million (2016)
num_employees	14,000
homepage

Lanxess AG is a German specialty chemicals company based in Cologne, Germany. It was founded in 2004 after Bayer AG spun off its chemicals division and parts of its polymers business.

History

The company's roots trace back to 1863, with the founding of Bayer AG. In November 2003, as part of a major restructuring, the Bayer Group decided to spin off a significant portion of its chemical activities, along with approximately one-third of its polymer business, into an independent entity.

Lanxess internally established its new structure on 1 July 2004. In November 2004, at an Extraordinary General Meeting of Bayer AG in Essen, over 99 percent of the capital present voted in favor of the spin-off of Lanxess from Bayer.

Lanxess AG shares were listed on Germany’s DAX from 24 September 2012 to 21 September 2015, and are currently part of MDAX, a mid-cap index. The company is also listed on the Dow Jones Sustainability Index and FTSE4Good Index.

In 2016, the company shifted its focus to the market for additives, specifically for lubricants and fire retardants, through the acquisition of Chemtura and by placing its rubber business into a joint venture with Aramco.

In February 2020, Lanxess acquired Brazilian biocide manufacturer Itibanyl Produtos Especiais Ltda. (IPEL).

In July 2022, Lanxess finalized its acquisition of International Flavors & Fragrances' microbial control unit for US$1.3 billion.

Notes

References

"Ein führender Spezialchemie-Konzern - LANXESS".
(June 22, 2004). "Bayer, Parting Ways". C&EN.
"HISTORIE Ein junges Unternehmen mit starken Wurzeln".
"Bayer-Vorstand hat entschieden: Lanxess-Börsengang erfolgt durch Spin-Off".
(29 May 2017). "Buffett Buys Stake in German Specialty Chemicals Maker Lanxess". Bloomberg News.
(26 September 2016). "Lanxess Shares Rise on $2.7 Billion Acquisition of Chemtura". Wall Street Journal.
(September 26, 2016). "Lanxess to buy Chemtura for $2.1 billion". Bloomberg news via Pittsburgh Post-Gazette.
"LANXESS completes acquisition of Brazilian biocide manufacturer IPEL".
Hronec, Jordyn. (1 July 2022). "Lanxess completes $1.3 billion acquisition". [[American City Business Journals]].

Info: Wikipedia Source

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