Lanxess’ High Performance Materials business unit to become legally independent
Canadian PlasticsAutomotive Materials
The portfolio of the business unit includes the engineering plastics polyamide and polybutylene terephthalate, as well as thermoplastic fibre composites.
Specialty chemical maker Lanxess AG is transferring its High Performance Materials (HPM) business unit to an independent legal corporate structure.
HPM is a supplier of high-performance plastics used primarily in the automotive, electrical, and electronics industries.
In a Nov. 11 news release, officials with Cologne, Germany-based Lanxess described electromobility as a “promising field of application” for the its 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,” said Hubert Fink, member of the Board of Management of Lanxess. “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. Lanxess says 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.