LANXESS Divests Itself of Polymers Business Unit
November 1, 2007
London/Leverkusen, Germany - LANXESS AG has divested itself of its Lustran Polymers business unit, a move that will position the company as a specialty chemicals group. The former Lustran Polymers business unit became part of INEOS ABS, a newly formed joint venture with British chemicals group INEOS. LANXESS initially holds a 49-percent financial interest in the joint venture, while the operating business is run by INEOS. This minority interest will be acquired by INEOS in two years, at which time LANXESS will have withdrawn completely from the ABS plastics business.