COLOGNE, Germany—Lanxess A.G. announced its antioxidants and accelerators product lines of its Rubber Chemicals business unit are being transferred to the Advanced Industrial Intermediates business unit.
The decision was made by the board of management on Sept. 8, and follows a review of its strategic options that started back in September 2013.
Lanxess previously had been examining strategic options for its antioxidants and accelerators lines, but it said during the release of its second quarter financials that it would merge these lines in with Advanced Industrial Intermediates if it did not receive an attractive offer.
Lanxess is doing a group-wide realignment, which is taking place under the slogan “Let's Lanxess again.” The realignment will ultimately condense Lanxess' 14 business units down to 10 in 2015.
“We are certain that the decision to take forward rubber chemical operations inside Lanxess is the best option for long-term commercial success. Consolidating the business areas will generate synergies that will help us further improve our competitiveness,” said Hubert Fink, head of the Advanced Industrial Intermediates business unit.
Lanxess had previously said that the Rubber Chemicals' specialties product line would be moved into the new Rhein Chemie Additives business unit—which will also consist of current business units Functional Chemicals and Rhein Chemie.