Lanxess’ High Performance Materials Business Unit to be Legally Independent

Lanxess plans to transfer its High Performance Materials (HPM) business unit to an independent legal corporate structure. The change, expected to take place within the first half of 2022, is part of a corporate restructuring that is expected to result in the best possible growth opportunities in the high-performance plastics business, according the company.

The portfolio of the HPM business unit includes engineering plastics Durethan nylon 6 and 66, Pocan PBT, as well as Tepex  thermoplastic fiber composites, used primarily in the automotive, electrical and electronics industries. Electromobility in particular is a promising field of application for these plastics, which are used predominantly for car bodies, battery housings and charging infrastructure. This business unit is characterized by the high backward integration of its production processes. It employs around 1,900 people at 14 sites worldwide, with sales in the low single-digit billion euro range.

Said Hubert Fink, member of Lanxess’ Board of Management, “The global market for new forms of mobility is developing very dynamically and is strategically rearranging itself – creating many innovative alliances and partnerships. In order to get the most out of the growth opportunities in this market and to be able to act flexibly, we will create a separate legal structure for the business unit.”