Chemicals company Lanxess plans to transfer its High Performance Materials (HPM) business unit to an independent legal corporate structure.
The business portfolio includes polyamide and polybutylene terephthalate engineering plastics and thermoplastic fiber composites. They are used primarily in the automotive, electrical and electronics industries, the company said. The business unit employs around 1,900 people at 14 sites worldwide.
‘The global market for new forms of mobility is developing very dynamically and is strategically rearranging itself – creating many innovative alliances and partnerships,’ said Hubert Fink, member of the board of management. ‘Lanxess will begin implementation in the first half of 2022. 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.’
This story uses material from Lanxess, with editorial changes made by Materials Today.
