LANXESS (OTC: LNXSF) Lanxess is a specialty chemical company headquartered in Leverkusen, Germany.
The company supplies elastomers, synthetic rubber (butyl rubber), chemical intermediates (chlorprene) for polymers, and additives including stabilizers, pigments and colorants. The company also makes ion exchange resins and biocides.
In 2015, Lanxess announced the creation of a jv selling 50% of its synthetic rubber business ($3.4B sales, 20 plants, 3700 employees) to Saudi Aramco for $1.3B. $450MM of proceeds will be invested in advanced intermediates and performance chemicals. Another $450MM will pay down debt, and the rest will buy back shares.