Reach offers opportunity as well as costs - Lanxess

19 September 2007 12:48  [Source: ICIS news]

LONDON (ICIS news)--Lanxess expects the cost for registering its chemicals with Reach to amount to around €200m ($279m) over the next 11 years but the EU scheme will present opportunities at the same time, CEO Axel Heitmann said on Wednesday.

“Lanxess has superior infrastructure and know-how to deal with such legislation,” said Heitmann, speaking at the company’s investor and media day in London.

“We can turn Reach into a competitive advantage,” he added, highlighting that hundreds of companies in China are folding due to not being competitive on an environmental basis.

Heitmann said there would be no measures to change Lanxess’s portfolio to accommodate Reach.

Reach - the registration, evaluation, authorisation and restriction of chemicals - was approved in 2006, replacing around 40 separate pieces of legislation covering the sale and use of chemicals and came into effect in June this year.
 

By: Mark Watts
+44 20 8652 3214

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