Lanxess AG is a German specialty chemicals company based in Cologne, Germany. It was founded in 2004 after Bayer AG spun off its chemicals division and parts of its polymers business.[2]
History
The company's roots trace back to 1863, with the founding of Bayer AG. In November 2003, as part of a major restructuring, the Bayer Group decided to spin off a significant portion of its chemical activities, along with approximately one-third of its polymer business, into an independent entity.[3]
Lanxess internally established its new structure on 1 July 2004. In November 2004, at an Extraordinary General Meeting of Bayer AG in Essen, over 99 percent of the capital present voted in favor of the spin-off of Lanxess from Bayer.[4]
Lanxess AG shares were listed on Germany’s DAX