LANXESS AG first listed on the Frankfurt Stock Exchange on January 31, 2005
Online PR News – 06-February-2010 – – Mumbai, February 6, 2010 – On February 1, 2010, specialty chemicals group LANXESS will mark the fifth anniversary of becoming a listed company. Some 14,600 employees working at LANXESS sites around the globe will celebrate the day the group was first listed on the Frankfurt Stock Exchange. The first price quoted for LANXESS shares on January 31, 2005 stood at EUR 15.75. Five years later, on February 1, 2010, the opening price was EUR 27.42.
“Although we started out in unfavorable circumstances and had to overcome a number of difficult phases, we have now secured the company a position of considerable standing in the chemical industry thanks to the commitment and solidarity shown by all our staff,” said Axel C. Heitmann, Chairman of the LANXESS Board of Management, in the run-up to the anniversary celebrations in Leverkusen. “LANXESS will continue to play globally a leading role in this sector and enjoy prominent market positions thanks to its innovative products,” he added.
The past five years has been extremely exciting for the team at LANXESS, in India were, the company has been expanding through organic growth and acquisition.
On this momentous occasion, Dr. Joerg Strassburger, Managing Director and Country Representative of LANXESS India, commented, “In the past five years our goal has been to deepen our understanding of India and establish ourselves as a major specialty chemicals player. India plays a significant role in LANXESS’ strategy for the BRIC countries. The buying of Gwalior Chemicals and new investments in Jhagadia underline our commitment to the country. We are ready to take LANXESS India to the next level.”
Significant achievements of the past five years
The company has successfully acquired the chemical businesses and production assets belonging to Indian company Gwalior Chemical Industries Limited. The deal is a milestone in LANXESS’ growth strategy in BRIC countries with LANXESS and Basic Chemicals (BAC) business unit strengthen their leading position in the Indian chemical industry.
Soon after the acquisition, LANXESS new production site in Nagda received the ‘Water Resource Management' award. The award recognized its innovative approach to recycling and harnessing domestic sewage water for industrial use.
LANXESS India is also on track to start up its new production site in Jhagadia, Gujarat state, in 2010. With an investment of around EUR 50 million, the site will have a new ion exchange resins plant and a rubber chemicals plant. The plants will employ roughly 230 workers. With state-of-the-art infrastructure and lower production cost, the plant is poised to give LANXESS a competitive edge globally.
LANXESS India also upgraded and expanded the Madurai plant by equipping it with world-class facilities for the Rhein Chemie and Material Protection Products business units.
In July 2009, LANXESS India received the Excellence Award for its outstanding contribution to the country’s industrial development. Further more, LANXESS India’s, Managing Director, Dr. Joerg Strassburger, was presented with the Udyog Rattan Award in recognition of his contributions. Both awards were conferred by the Institute of Economic Studies.
Although, LANXESS was incorporated in India on 20th February, 2004, the company has a long history of more than 100 years in India as part of Bayer Chemicals.
Today, the company has over 500 employees and four production facilities in Madurai and Nagda.
Corporate social responsibility
LANXESS India has been supporting social organizations, such as Bombay Teen Challenge (BTC), Save The Children India (STCI) in Mumbai and Aparajitha Foundations in Madurai so as to provide better education and livelihood to the children.
Since 2008, LANXESS India has been supporting BTC and STCI. Through STCI’s “Child Welfare and Educational Project”, LANXESS India is providing educational sponsorship to five pre-primary schools (called ’Balwadis’) and has donated water purifiers to these schools.
In 2009, LANXESS India started to support the Aparajitha Foundations by sponsoring three schools in Madurai for six years. This sponsorship will enable 4800 students to learn 120 life skills each.
LANXESS India is creating a green zone at its new production site in Jhagadia. To kick-off this initiative, a tree plantation drive was organized during World Earth Day 2009 with the support of the Gujarat Pollution Control Board (GPCB). More than 100 people were involved, and they included LANXESS India employees, GPCB members and students from the Industrial Technical Institute in Ankleshwar.
LANXESS is a leading specialty chemicals company with sales of EUR 6.58 billion in 2008 and currently about 14,600 employees in 23 countries. The company is represented at 43 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals.
Information for editors:
All LANXESS news releases and their accompanying photos can be found at http://corporate.lanxess.de/en/media/press-releases/. Recent photos of the Board of Management and other LANXESS image material are available at http://fotos.lanxess.de/index_en.html. The latest TV footage, audiofiles and podcasts can be found at http://corporate.lanxess.com/en/media/audio-video/.
You can find further information concerning LANXESS chemistry in our WebMagazine at http://webmagazine.lanxess.com.
This news release may contain forward-looking statements based on current assumptions and forecasts made by LANXESS AG management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.