LANXESS has successfully completed two portfolio adjustments. Effective Sept. 30, 2007, the former Lustran Polymers business unit became part of INEOS ABS, a newly formed joint venture with British chemicals group INEOS.
LANXESS initially holds a 49 percent financial interest in the joint venture, while the operating business is run by INEOS. This minority interest held by LANXESS will also be acquired by INEOS in two years’ time as agreed. LANXESS will thus be withdrawing completely from the ABS plastics business.
Also effective Sept. 30, 2007, LANXESS has divested its wholly owned subsidiary Borchers GmbH to the OM Group (OMG) of the United States. Borchers, which specializes in additives for coatings, emulsion paints and printing inks, was considered a peripheral business of LANXESS.