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PRZOOM - /newswire/ -
Cologne, North Rhine-Westphalia, Germany, 2024/08/21 - Long-term raw material contracts and significantly reduced costs sustainably improve framework conditions - LANXESS.com. FRA: DE Frankfurt: LXS
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Specialty chemicals company LANXESS is continuing the production of chromium oxide pigments at the Krefeld-Uerdingen site and is discontinuing its original plans to sell the business. Around 50 people are employed at the plant for chromium oxides, which are used in energy-intensive industries such as ceramics, the production of fireproof materials and in color applications.
“After intensive and lengthy negotiations, we have secured a long-term supply of raw materials for the company. We were also able to identify further potential for improvement along the entire value chain. This has improved the framework conditions for the chromium oxide business, enabling us to continue operations,” said Matthias Zachert, Chairman of the Board of Management of LANXESS AG. “I am particularly pleased that we will be able to retain the employees of the plant within the Group.”
Chromium oxide pigments are particularly heat-stable and are used for coloring glazes or enamels in the ceramics industry and for the production of refractory bricks. Chromium oxides are also used to color a wide variety of materials.
About LANXESS
LANXESS (lanxess.com) is a leading specialty chemicals company with sales of EUR 6.7 billion in 2023. The company currently has about 12,800 employees in 32 countries. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives and consumer protection products. LANXESS is listed in the leading sustainability indices of the Dow Jones Sustainability Index (DJSI World and Europe).
Forward-looking statements
This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors, nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accepts any liability whatsoever arising directly or indirectly from the use of this document.
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