LANXESS increases competitiveness
LANXESS is acting to address the challenges posed by the current economic situation – especially for its rubber business – with the “Advance” program announced at the company’s Media and Analysts’ Day. The aim is to achieve about €100 million in annual savings from 2015 onward through efficiency improvements and selective restructuring. This will lead to a reduction of about 1,000 in LANXESS’s global workforce by the end of 2015. Total exceptional charges of roughly €150 million will be taken for the “Advance” program in 2013 and 2014.
Group headquarters move to Cologne successfully completed
LANXESS now manages its global operations from the LANXESS Tower in Cologne. The new Group headquarters unites all of the company’s central management functions under one roof for the first time.
Our stock started the third quarter below €50, briefly surpassing this level again in early September. However, the price dipped again toward the end of the reporting period, and LANXESS stock closed on September 30 at €47.98 for a gain of 3.7% on the quarter.
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