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By TT News| Nov 17, 2021

Lanxess To Make Its HPM Business Unit Independent

Lanxess has decided to transfer its High Performance Materials (HPM) business unit to an independent legal corporate structure for the best possible growth opportunities in the high-performance plastics business. The company will begin implementation in the first half of 2022.

One of the leading suppliers of high-performance plastics, HPM’s materials are primary used in the automotive, electrical and electronics industries. Electromobility is a particular field for the application of Lanxess plastics. HPM’s materials are predominantly used for car bodies, battery housings and charging infrastructure.

HPM business unit currently employs around 1,900 people at 14 sites worldwide, with sales in the low single-digit billion euro range. HPM business unit portfolio includes engineering plastics polyamide, polybutylene terephthalate and thermoplastic fibre composites.

Hubert Fink, Member of the Board of Management, Lanxess, said, “The global market for new forms of mobility is developing very dynamically and is strategically rearranging itself – creating many innovative alliances and partnerships. 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.” (TT)

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