2020-09-24

LANXESS funds pensions with EUR 100 million

  • Group-wide pension funding status improves to around 60 percent
  • Safeguarding company pension scheme

Cologne, September 24, 2020 – Specialty chemicals company LANXESS is increasing its German pension plan assets by EUR 100 million. The pension provisions, which amounted to EUR 1.135 billion at the end of the second quarter of 2020, are reduced accordingly. The Group-wide funding status of pension obligations improves from around 56 percent to around 60 percent with this transaction.

“We are again adding to our pension assets in order to further safeguard our company pension scheme. Future-proof pensions for our employees are of great importance to us,” said Michael Pontzen, Chief Financial Officer of LANXESS. 

LANXESS is a leading specialty chemicals company with sales of EUR 6.8 billion in 2019. The company currently has about 14,300 employees in 33 countries. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives, specialty chemicals and plastics. LANXESS is listed in the leading sustainability indices Dow Jones Sustainability Index (DJSI World and Europe) and FTSE4Good.

Forward-Looking Statements
This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors, nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accepts any liability whatsoever arising directly or indirectly from the use of this document.

Information for editors:
All LANXESS news releases and their accompanying photos can be found at press.lanxess.com. Recent photos of the Board of Management and other LANXESS image material are available at photos.lanxess.com. 

You can find further information concerning LANXESS chemistry in our WebMagazine at http://webmagazine.lanxess.com.

Follow us on Twitter, Facebook, Linkedin and YouTube:

http://www.twitter.com/LANXESS
http://www.facebook.com/LANXESS
http://www.linkedin.com/company/lanxess
http://www.youtube.com/lanxess


Contact

Ingo Drechsler

Ingo Drechsler
Head of External Relations

Phone: +49 221 888 53790

Fax: +49 221 8885 4994

send E-Mail

Daniela  Eltrop

Daniela Eltrop
Spokesperson Financial and Business Media

Phone: +49 221 8885 4010

send E-Mail

Alexander Böhm

Alexander Böhm
Spokesperson Financial and Business Media

Phone: +49 221 8885 4746

send E-Mail

Download