LANXESS Divests Itself of Polymers Business Unit
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LANXESS will have withdrawn completely from the ABS plastics business.
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