Lanxess
{{short description|German chemical company}}
{{Infobox company
|name = Lanxess AG
|logo = LanXess-Logo.svg
|type = Aktiengesellschaft (Public)
|traded_as = {{ubl|{{FWB|LXS}}|MDAX Component}}
|predecessor = Bayer Chemicals
|foundation = {{Start date and age|2004|07|01|df=y}}
|location_city = Cologne
|location_country = Germany
|key_people = {{unbulleted list|Matthias Zachert (CEO and Chairman of the Board of Management)|Rolf Stomberg (Chairman of the Supervisory Board)}}
|industry = Chemicals
|products = polymers, intermediates and Specialty chemicals
|revenue = {{decrease}} €7.2B (2018){{cite web |url=https://lanxess.de/fileadmin/user_upload/lxs_gb2016_d_Stand_1705.pdf |title=Ein führender Spezialchemie-Konzern - LANXESS |access-date=2018-01-17 |url-status=live |archive-url=https://web.archive.org/web/20180117131428/https://lanxess.de/fileadmin/user_upload/lxs_gb2016_d_Stand_1705.pdf |archive-date=2018-01-17 }}
|operating_income = {{gain}} €464 million (2016)
|net_income = {{gain}} €192 million (2016)
|num_employees = 14,000
|homepage = {{URL|lanxess.com}}
}}
Lanxess AG is a German specialty chemicals company based in Cologne, Germany. It was founded in 2004 after Bayer AG spun off its chemicals division and parts of its polymers business.{{cite news|last1=Short|first1=Patricia L.|last2=Tullo|first2=Alexander H.|title=Bayer, Parting Ways|url=http://pubs.acs.org/cen/news/8226/8226earlybus.html|work=C&EN|date=June 22, 2004}}
History
The company's roots trace back to 1863, with the founding of Bayer AG. In November 2003, as part of a major restructuring, the Bayer Group decided to spin off a significant portion of its chemical activities, along with approximately one-third of its polymer business, into an independent entity.{{Cite web |title=HISTORIE Ein junges Unternehmen mit starken Wurzeln |url=http://lanxess.de/de/corporate/ueber-lanxess/historie/|archive-url=https://web.archive.org/web/20190413144338/http://lanxess.de/de/corporate/ueber-lanxess/historie/ |archive-date=2019-04-13 }}
Lanxess internally established its new structure on 1 July 2004. In November 2004, at an Extraordinary General Meeting of Bayer AG in Essen, over 99 percent of the capital present voted in favor of the spin-off of Lanxess from Bayer.{{Cite web |title=Bayer-Vorstand hat entschieden: Lanxess-Börsengang erfolgt durch Spin-Off |url=https://www.chemie.de/news/38548/bayer-vorstand-hat-entschieden-lanxess-boersengang-erfolgt-durch-spin-off.html |access-date=2023-02-27 |website=www.chemie.de |language=de}}
Lanxess AG shares were listed on Germany’s DAX from 24 September 2012 to 21 September 2015, and are currently part of MDAX, a mid-cap index. The company is also listed on the Dow Jones Sustainability Index and FTSE4Good Index.
In 2016, the company shifted its focus to the market for additives, specifically for lubricants and fire retardants, through the acquisition of Chemtura and by placing its rubber business into a joint venture with Aramco.{{cite news|last1=Cullen|first1=Angela|title=Buffett Buys Stake in German Specialty Chemicals Maker Lanxess|url=https://www.bloomberg.com/news/articles/2017-05-29/buffett-buys-stake-in-german-specialty-chemicals-maker-lanxess|work=Bloomberg News|date=29 May 2017|url-status=live|archive-url=https://web.archive.org/web/20170531013111/https://www.bloomberg.com/news/articles/2017-05-29/buffett-buys-stake-in-german-specialty-chemicals-maker-lanxess|archive-date=31 May 2017}}{{cite news|last1=Divac|first1=Natascha|last2=Nakrosis|first2=Stephen|title=Lanxess Shares Rise on $2.7 Billion Acquisition of Chemtura|url=https://www.wsj.com/articles/lanxess-to-acquire-chemtura-for-2-7-billion-1474846789|work=Wall Street Journal|date=26 September 2016|url-status=live|archive-url=https://web.archive.org/web/20170806232956/https://www.wsj.com/articles/lanxess-to-acquire-chemtura-for-2-7-billion-1474846789|archive-date=6 August 2017}}{{cite news|last1=Kaskey|first1=Jack|last2=Miller|first2=Kevin|last3=Matthews|first3=Sheenagh|title=Lanxess to buy Chemtura for $2.1 billion|url=http://www.post-gazette.com/business/pittsburgh-company-news/2016/09/26/Lanxess-to-buy-Chemtura-for-2-1-billion-pittsburgh-findlay/stories/201609260125|work=Bloomberg news via Pittsburgh Post-Gazette|date=September 26, 2016|language=en|url-status=live|archive-url=https://web.archive.org/web/20170330084550/http://www.post-gazette.com/business/pittsburgh-company-news/2016/09/26/Lanxess-to-buy-Chemtura-for-2-1-billion-pittsburgh-findlay/stories/201609260125|archive-date=March 30, 2017}}
In February 2020, Lanxess acquired Brazilian biocide manufacturer Itibanyl Produtos Especiais Ltda. (IPEL).{{Cite web|url=https://www.chemeurope.com/en/news/1164751/lanxess-completes-acquisition-of-brazilian-biocide-manufacturer-ipel.html|title=LANXESS completes acquisition of Brazilian biocide manufacturer IPEL|website=www.chemeurope.com|language=en|access-date=2020-02-06}}
In July 2022, Lanxess finalized its acquisition of International Flavors & Fragrances' microbial control unit for US$1.3 billion.{{cite web |url=https://www.bizjournals.com/pittsburgh/news/2022/07/01/lanxess-completes-1-3-billion-acquisition.html |title=Lanxess completes $1.3 billion acquisition |date=1 July 2022 |archive-url=https://archive.today/20220702053951/https://www.bizjournals.com/pittsburgh/news/2022/07/01/lanxess-completes-1-3-billion-acquisition.html |archive-date=2 July 2022 |publisher=American City Business Journals |first=Jordyn |last=Hronec}}
Notes
{{Reflist}}
External links
- {{official website|lanxess.com}}
- [https://chemondis.com Marketplace]
{{Portal|Companies}}
{{Authority control}}
Category:Chemical companies of Germany
Category:Companies listed on the Frankfurt Stock Exchange
Category:Chemical companies established in 2004
Category:Manufacturing companies based in Cologne
Category:Multinational companies headquartered in Germany
Category:2004 establishments in Germany