LANXESS is to transfer its High Performance Materials (HPM) business unit to a legally independent corporate structure and hopes this will provide it with the best possible growth opportunities through high flexibility in the high-performance plastics business.
HPM is regarded as one of the leading suppliers of high-performance plastics. The portfolio of the HPM business unit includes the engineering plastics polyamide and polybutylene terephthalate as well as thermoplastic fiber composites. The materials are used primarily in the automotive, electrical, and electronics industries. LANXESS sees electromobility in particular as a promising field of application for the plastics, which are used primarily for car bodies, battery housings, and charging infrastructure.
LANXESS plans to start implementation in the first half of 2022. The business unit employs around 1,900 people at 14 locations worldwide. Sales are in the low single-digit billion euro range.
- LANXESS AG, Cologne, Germany