 Home > Chemicals Industry > International Chemical > Issue 8, 2019 - LANXESS completes the sale of rubber business

Issue 8, 2019 - LANXESS completes the sale of rubber business

 Last Update: 2022-11-11
 Source: Internet
 Author: User

Tags

financial avenue

group 4

facebook financial report

Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

LANXESS announced that it has sold its 50% stake in ARLANXEO to its former joint venture partner Saudi Aramco
.
This is another milestone
in LANXESS's restructuring process.
LANXESS will use the proceeds from the sale of ARLANXEO shares to continue to improve its financial position and provide further growth space
for internal growth and acquisitions.

LANXESS received around EUR 1.
4 billion in revenue from the sale of ARLANXEO shares and used 200 million euros of that to continue financing its pension debt
, said LANXESS Group Chief Financial Officer Peng Chengmai.
An additional €200 million will be used for share buybacks, which will be completed
by the end of the current financial year.

This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

Related Products

Bumetrizole

CAS No.: 3896-11-5

top

$3.12/KG EXW

Drometrizole

CAS No.: 2440-22-4

top

$3.14/KG EXW

Octocrilene

CAS No.: 6197-30-4

top

$3.21/KG EXW

Hot Tags

united states jobs(223)

jobs united states(236)

1 year treasury(277)

1 year subscription(296)

single use technology(195)

announcements today(81)

ups united states(221)

united states logo(227)

80 20 company(94)

healthy food name(42)

Hot Articles

The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.