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World News and Views :: Projects

Lanxess Puts Investment Projects On Hold

2:31 PM MST | January 12, 2009

Lanxess says it is postponing some capital projects in response to the global economic crisis. The measures are in addition to Lanxess’s recently announced plans to cut production and temporarily close 23 plants in Germany (CW, Dec. 22/29, 2008, p. 5). “We have decided to put off some investment projects, given the decline in demand for chemical products throughout the world,” says Lanxess chairman Axel C. Heitmann. This will ensure the necessary financial flexibility for the “difficult fiscal year 2009,” he says. Lanxess will delay...

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