15 Dec 2009
ERJ staff report (RD)
Leverkusen -- Lanxess AG has sold its 55 percent stake in the hydrazine hydrate joint venture Lanxess Yaxing (Weifang) Chemicals Co. Ltd., based in the Weifang Industrial park in Shandong, China, to its Chinese partner Weifang Yaxing Group.
The company' also operates a Rubber Chemicals unit in the Weifang Industrial park, and this will continue to manufacture, having reached a long-term lease and service agreement with Cooper-River, Lanxess said 15 Dec.
The measures are part of the company's Challenge09-12 programme, implemented to cut worldwide costs by around Euro 360 million by 2012, the statement said.
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Press release from Lanxess AG
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