12 April 2005 17:28 [Source: ICIS news]
LONDON (CNI)--CNI sources believe that over 1,000 jobs could be affected by Lanxess’ decision, announced Tuesday, to “structurally realign” its fine chemicals business unit and consolidate production capacities in its styrenic resins division to achieve annual savings of around Euro100m ($1.28m).
The German chemicals producer said in a statement Tuesday that “the economic situation” at both of the business units is unsatisfactory and immediately embarked on talks between its board and the council of workers. If all of the changes under discussion are adopted, the total saving would reach Euro100m, a Lanxess spokesman said.
In its statement the company said that the plans call for the closure of unprofitable fine chemicals units in ?xml:namespace>
At present Lanxess provides around 30% of
The largest share of global ABS production now derives from
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