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Breaking NewsCompany News

Bayer Plans Spinoff of LANXESS Corp.

October 1, 2004
LUDWIGSHAFEN, Germany - Bayer Group formally announced the launch of a new company, LANXESS Corp., as part of a plan to spin off major portions of Bayer's chemicals and polymer operations, including inorganic-pigments and paint-additives businesses.

The new company, created as part of a Bayer Group restructuring, is scheduled to be spun off at the start of 2005, and will have annual sales of approximately $7.4 billion.

The company's portfolio of products is grouped into four business units:

  • Chemical Intermediates - basic chemicals, fine chemicals and inorganic pigments;

  • Engineering Plastics - semi-crystalline (nylon) and styrenics;

  • Performance Chemicals - Borchers paint additives; Dorlastan Fibers L.L.C. (spandex); functional chemicals; Sybron Chemicals Inc. (ion-exchange resins); leather-, paper- and textile-processing chemicals; material-protection products; Rhein Chemie Corp. (additives and custom chemicals); and rubber chemicals;

  • Synthetic Rubber - butyl rubber, polybutadiene rubber, technical rubber products.

    LANXESS began operating as a legal entity in the United States on July 1. The company will be a member of the newly formed LANXESS Group, whose ultimate holding company is scheduled to be listed on a stock exchange in Germany at the beginning of 2005. The company's 10 U.S. manufacturing sites are located in Ohio, New Jersey, West Virginia, South Carolina, and Texas.

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    • LANXESS Corp.

      LANXESS is a leading specialty chemicals company with sales of EUR 6.7 billion in 2023. The company currently has about 12,400 employees in 32 countries. LANXESS' core business is the development, manufacturing and marketing of chemical intermediates, additives and consumer protection products.
    • LANXESS Corp.

      LANXESS is a leading specialty chemicals company with sales of EUR 6.7 billion in 2023. The company currently has about 12,500 employees in 32 countries. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives and consumer protection products. LANXESS has achieved leading positions in the Dow Jones Sustainability Index and the MSCI ESG and ISS ESG ratings, among others, for its commitment to sustainability.
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