Lanxess to transfer Technical Services to separate entity

27/11/2006

Germany-based chemicals group Lanxess plans to transfer its Technical Services group function to a separate legal entity. This wholly-owned subsidiary is scheduled to change internally to a new work-time and service model by January 1, 2007.

The agreement is still to be approved by the company’s Central Works Council and the German Mine, Chemical and Power Workers’ Union (IG BCE).

The approximately 700 employees working for the Technical Services group function and the maintenance units in the business units will be transferred to the new company.

The Technical Services group function supports Lanxess’ business units worldwide, providing a range of services essential for the production and supply of chemical products. These include operating workshops and the maintenance of production facilities.