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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

Lanxess to cut jobs, sell assets on weak rubber demand

11:34 AM MDT | September 23, 2013 | —Natasha Alperowicz in Cologne

Lanxess has announced a series of measures aimed at improving the company’s competitiveness following a period of weak demand for synthetic rubber, which has led to a major drop in earnings this year. The company aims to achieve annualized savings of €100 million ($133.5 million) from 2015 under a new cost-cutting program called Advance, through efficiency improvements, and targeted restructuring....

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