LANSIS, 2022 Engineering Plastics Division Independence

Independent Since the First Half of 2022... Targeting the Mobility Market

[Asia Economy Reporter Hwang Yoon-joo] LANXESS is separating its Engineering Plastics division to establish it as an independent corporation. The launch of the new company is scheduled to begin in the first half of 2022 and is expected to be completed within the year depending on regional circumstances.

The Engineering Plastics division is one of the world's leading suppliers of high-performance plastics for automotive and electrical/electronic applications. LANXESS's high-performance plastics are expanding their applications in the electric vehicle sector, including automotive lightweighting, battery housings, and charging infrastructure.

Han Sang-hoon, Director of LANXESS Engineering Plastics division, stated, "As the global new mobility market is dynamically evolving, strategic restructuring is actively underway with innovative alliances and partnerships being formed. The Engineering Plastics division will leverage the flexibility of an independent corporation and the growth opportunities in the new mobility market to achieve sustainable growth."

The Engineering Plastics division primarily supplies polyamides (PA 6 and PA 66), polybutylene terephthalate (PBT), and thermoplastic composite sheets Tepex. It is a specialized company with a vertically integrated production system capable of producing polymer intermediates such as caprolactam and glass fibers in-house. Currently, approximately 1,900 employees work across 14 sites worldwide. Annual sales are around 1 billion euros.

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