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People & Business :: Companies
Lanxess to Restructure Rhein Chemie
2:50 PM MDT | August 7, 2007 | Chemical Week Editorial Staff
Lanxess says it will restructure its Rhein Chemie Rheinau specialty chemicals subsidiary. Rhein Chemie will invest about €7 million ($9.6 million) to modernize and construct new facilities at its Mannheim, Germany site in the next few years, Lanxess says. The company says it will also eliminate 70 jobs from the Mannheim site, or about 8% of Rhein Chemie’s total workforce, in the next few years. The job cuts coupled with the modernization investments will yield €5 million in annualized savings, Lanxess...
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