Lanxess spin-off from Bayer accomplished

Published: 28-Jan-2005

The separation of Lanxess from the Bayer Group was accomplished on 28 January, 2005 with the entry of the new spin-off chemicals group in the commercial register for Bayer AG.


The separation of Lanxess from the Bayer Group was accomplished on 28 January, 2005 with the entry of the new spin-off chemicals group in the commercial register for Bayer AG.

This marks the completion of the most fundamental restructuring in Bayer AG's history, allowing the company to concentrate on its growth- and innovation-driven core businesses in the fields of health care, nutrition and high-tech materials.

'Placing Lanxess on the stock market is a crucial part of Bayer's strategic realignment,' said Werner Wenning, ceo of Bayer AG.

The portfolio of Lanxess is made up of large parts of Bayer's previous chemicals business and about one third of its former polymers business. With 2003 sales of some €6.3bn and about 19,600 employees, Lanxess is among Europe's largest chemical companies.

  

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