Lanxess, Advent launch new engineering polymers JV Envalior

Cologne, Germany – Lanxess AG and private equity investor Advent International have completed the formation of their engineering polymers joint venture, effective 1 April.

Called Envalior, the €4-billion turnover, 4,000-employee company combines the DSM Engineering Materials (EDM) and Lanxess high-performance materials (HPM) units.

It comprises the units: performance materials (EDM performance polymers and HPM engineering plastics); speciality materials (EDM specialities and HPM Tepex); and intermediates (HPM intermediates and EDM polymer & films).

With a head office in Dusseldorf, Germany, Envalior is supported by existing locations of EDM in Geleen The Netherlands and HPM's Dormagen Germany site.

Envalior will be led by former Synthomer boss Calum MacLean as chief executive officer, supported by CFO Stephen Bennett and EVP strategy & transformation Peter-Hanjo Homberg who is currently serving at Lanxess.

THe executive team also includes EVP specialty materials Caroline Mitterlehner from DSM, EVP Intermediates Peter Henrichfreise from Lanxess, while CEO MacLean will also serve as EVP for performance materials unit.

Lanxess holds around 40% of the shares in the JV, with the remainder held by Envalior's majority partner Advent.