Specialty chemicals company LANXESS will transfer its High Performance Materials (HPM) business unit to an independent legal corporate structure.
Lanxess
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.
Hubert Fink, member of the Board of Management of LANXESS AG, said: “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.” 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 fibre composites. The business unit is characterised 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.