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Lanxess Aims to Close Profitability Gap; May De-list Petroflex

10:03 AM MDT | March 18, 2008 | Natasha Alperowicz in Düsseldorf

Lanxess has reconfirmed its intention to close the profitability gap with its peer group in 2008, a year ahead of original plans. The company’s attention is now focusing on growth after three years of restructuring since its separation from Bayer in 2004. The company recently announced its first major acquisition, a deal to buy Braskem and Unipar’s combined 70% stake in Petroflex (Rio de Janeiro), a leading producer of synthetic rubber in Latin America, for €198 million ($297 million). It also announced a €400-million investment in a...

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