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LANXESS High Performance Materials (HPM) business unit to be converted into a separate legal corporate structure

 Last Update: 2023-01-17
 Source: Internet
 Author: User

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high performance engineering

global materials

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Specialty chemicals company LANXESS has announced the transition of its High Performance Materials (HPM) business unit into a separate legal corporate structure
.
Implementation is planned to begin in the first half of 2022
.

LANXESS' HPM business unit is one of the leading suppliers of high-performance plastics
.
These materials are mainly used in the automotive, electrical and electronics industries
.
Electric vehicles in particular are a promising area of application for LANXESS plastics, mainly for bodywork, battery housings and charging infrastructure
.

“The global market for new forms of mobility is booming and is being strategically restructured – creating many innovative alliances and partnerships
.
To take full advantage of the growth opportunities in this market and be able to act flexibly, we will create for the business units A separate legal structure," said Hubert Fink, member of the Management Board of LANXESS AG
.

The product portfolio of the LANXESS HPM business, which includes engineering plastics polyamide and polybutylene terephthalate, as well as thermoplastic fiber composites, is characterized by a high degree of backward integration of its production processes
.

The business unit employs around 1,900 people at 14 locations worldwide and generates sales of around EUR 1 billion
.

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