Lanxess Begins Acquisitions
21 December 2006 The Leverkusen, Germany-based chemicals group, which was spun off from Bayer in 2004, has completed restructuring efforts that will result in major cost reductions, according to the company. Lanxess leadership feels that the time is now right to begin making strategic acquisitions. Board Chairman Axel Heitmann announced the purchase of a smaller, unnamed regional company as a first step to be taken before the end of this year. He said, “We now confident in being able to play an active role in the consolidation of the chemicals market.”
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