Lanxess

Lanxess AG
Company typeAktiengesellschaft (Public)
IndustryChemicals
PredecessorBayer Chemicals
Founded1 July 2004; 20 years ago (2004-07-01)
Headquarters
Cologne
,
Germany
Key people
Productspolymers, intermediates and Specialty chemicals
RevenueDecrease €7.2B (2018)[1]
Increase €464 million (2016)
Increase €192 million (2016)
Number of employees
14,000
Websitelanxess.com

Lanxess AG is a German specialty chemicals company based in Cologne, Germany that was founded in 2004, via the spin-off of the chemicals division and parts of the polymers business from Bayer AG.[2]

History

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The roots of the company go back to 1863, the year Bayer AG was founded. In November 2003, as part of a major restructuring, the Bayer Group decided to spin off large parts of its chemical activities and around a third of its polymer business into an independent company.[3]

On 1 July 2004 Lanxess positioned itself internally in the new structures. In November 2004, the Extraordinary General Meeting of Bayer AG took place in Essen. Over 99 percent of the capital present voted for Lanxess to be spun off from Bayer.[4]

Shares in Lanxess AG were listed in Germany’s DAX from 24 September 2012 to 21 September 2015, and form part of MDAX, a midcap index. The company is listed in the Dow Jones Sustainability Index and FTSE4Good Index.

In 2016, the company began to focus on the market for additives for lubricants and fire retardants by acquiring Chemtura and placing its rubber business into a joint venture with Aramco.[5][6][7]

In February 2020, Lanxess acquired Brazilian biocide manufacturer Itibanyl Produtos Especiais Ltda. (IPEL).[8]

In July 2022, Lanxess completed its acquisition of International Flavors & Fragrances' microbial control unit for US$1.3 billion.[9]

Notes

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  1. ^ "Ein führender Spezialchemie-Konzern - LANXESS" (PDF). Archived (PDF) from the original on 2018-01-17. Retrieved 2018-01-17.
  2. ^ Short, Patricia L.; Tullo, Alexander H. (June 22, 2004). "Bayer, Parting Ways". C&EN.
  3. ^ "HISTORIE Ein junges Unternehmen mit starken Wurzeln". Archived from the original on 2019-04-13.
  4. ^ "Bayer-Vorstand hat entschieden: Lanxess-Börsengang erfolgt durch Spin-Off". www.chemie.de (in German). Retrieved 2023-02-27.
  5. ^ Cullen, Angela (29 May 2017). "Buffett Buys Stake in German Specialty Chemicals Maker Lanxess". Bloomberg News. Archived from the original on 31 May 2017.
  6. ^ Divac, Natascha; Nakrosis, Stephen (26 September 2016). "Lanxess Shares Rise on $2.7 Billion Acquisition of Chemtura". Wall Street Journal. Archived from the original on 6 August 2017.
  7. ^ Kaskey, Jack; Miller, Kevin; Matthews, Sheenagh (September 26, 2016). "Lanxess to buy Chemtura for $2.1 billion". Bloomberg news via Pittsburgh Post-Gazette. Archived from the original on March 30, 2017.
  8. ^ "LANXESS completes acquisition of Brazilian biocide manufacturer IPEL". www.chemeurope.com. Retrieved 2020-02-06.
  9. ^ Hronec, Jordyn (1 July 2022). "Lanxess completes $1.3 billion acquisition". American City Business Journals. Archived from the original on 2 July 2022.
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