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February 8, 2010
By: KERRY PIANOFORTE
Editor, Coatings World
Lanxess AG has taken further steps to streamline its global production network and reduce operating costs in the face of the economic crisis and competitive business environment. The specialty chemicals group announced its Functional Chemicals business unit will transfer its colorants production from Lerma, Mexico, to its existing facility in Leverkusen, Germany, in the coming months. Further, the company has sold its 55% stake in the hydrazine hydrate joint venture Lanxess Yaxing (Weifang) Chemicals Company Ltd. to its Chinese partner Weifang Yaxing Group. The chemicals manufacturer will continue to produce hydrazine hydrate as well at its Leverkusen plant.
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