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[January 2005]
Lanxess Separation Complete
The separation of Lanxess AG from the Bayer Group (Leverkusen, Germany) was accomplished on 28 January 2005 with the entry of the spin-off of the new chemicals group in the commercial register for Bayer AG. This completes the most fundamental restructuring in Bayer AG's history. Bayer will in future concentrate on its growth and innovation-driven core businesses in the fields of health care, nutrition and high-tech materials. The portfolio of Lanxess comprises large parts of Bayer's previous chemicals business and about one-third of its former polymers business.
With 2003 sales of some €6.3 billion (based on the Combined Financial Statements) and about 19,600 employees (as at 30 September 2004), Lanxess is among Europe's largest chemicals companies. "We wish all Lanxess employees a good start as an independent company and every success in the future," said the CEO of Bayer AG, Werner Wenning.
ENDS