Lanxess have also announced that they will consolidate the number of business units and will consolidate its administrative operations.

From January 1, 2015, Lanxess will merge certain business units, reducing their number from 14 to 10. In addition, the company is streamlining its global administration by reducing the workforce on a cross-functional basis and consolidating specific areas of activity. The respective employee representatives will be involved in the process.

Sales in the Performance Chemicals segment advanced by 1.4% to €569 million mainly due to higher volumes. Businesses providing positive impetus included material protection products, leather chemicals and pigments. EBITDA pre exceptionals, at €86 million, was a substantial 28.4% above the €67 million posted in the prior-year period.

Lanxess is a leading specialty chemicals company with sales of €8.3 billion in 2013 and about 16,900 employees in 31 countries. The company is currently represented at 52 production sites worldwide. The core business of Lanxess is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals.