Corrected: LANXESS forges new North American group

21 August 2008 13:53  [Source: ICIS news]

Correction: In the ICIS news story headlined “LANXESS forges new North American group” dated 21 August 2008, please read in paragraph 2 …will also be named as managing director … instead of … managing editor …. A corrected story follows.

PITTSBURGH, Pennsylvania (ICIS news)--German specialty chemical company LANXESS is restructuring its US and Canadian businesses into one new North American service organisation, company CEO and chairman Axel Heitmann announced late Wednesday night.

The combined organisation, which will be based in Pittsburgh, Pennsylvania, will be headed by LANXESS Corp president Randy Dearth, who will also be named as managing director.

Both LANXESS Corp and the Canadian organization LANXESS Inc will remain operational as separate legal entities, said Heitmann.

“The challenges of the current business environment in North America require efficiency and expertise,” said Heitmann during LANXESS' gala dinner event in Pittsburgh.

“I have every confidence that this proactive model will be another successful example of LANXESS innovation and will prove our competitiveness in this region.”

Despite its slowing economy, Heitmann said he still see growth opportunity in the US and that the region remains part of the company’s agenda in its current and future strategy.

“We are confident that in the not-too-distant future, LANXESS' presence here will be longer, stronger and more productive than it is today,” he added.

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By: Doris de Guzman
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