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The joint venture partners have bound themselves

together for the next five years. What will happen


We have obligated ourselves for five years for a joint path,

and we thereby also want to accompany the expected

consolidation of the market. How things will continue

after five years, we shall decide by then.

Arlanxeo wants to accompany the expected

consolidation. How has one to imagine this to be? Are

there agreements as to how in the situation of a large

acquisition the partners Lanxess and Saudi Aramco will

be co-sharing the financing?

In a joint venture it is important, that the owners do agree

as to the strategic orientation. There is agreement as to

the evaluation, that the market will consolidate itself in

the coming years.

we want to move away from cyclical businesses

with high raw material cost components

There is also agreement, that we - Lanxess as the largest

producer of synthetic rubber and Saudi Aramco as the

largest integrated energy group of the world - shall

actively, with Arlanxeo, join in the consolidation of the

market and jointly will review upcoming opportunities.

If one subtracts at Lanxess the synthetic rubber business,

then the Lanxess group in 2015 stood for a turnover

of 5 billion Euro, and for operating earnings before

depreciation of a good 500 million Euro. Is this enough

for a standalone business?

These are purely hypothetical numbers. The entire clear

vision for the “new” Lanxess is Growth. With this we

want to increase the q uality of the portfolio and the

returns. That means, we want to move away from cyclical

businesses with high raw material cost components, and

focus more on smaller and medium sized markets with

less cyclicality. On this way we shall march forward in

the coming years – by way of organic and non-organic


This sounds as if you have already written off, at least in

your thoughts, the synthetic rubber business.

To the contrary: We have bound ourselves at least for

the next five years, and we are convinced, that there will

be opportunities in this area. We are consolidating this

business still for three years in the Lanxess Group, and we

shall closely accompany the joint venture. The medium

term focus, however, is clearly on the new Lanxess - this

is the business with specialty chemicals, intermediates and

high performance plastics.

The question, however, is, whether Lanxess - without the

synthetic business - is still big enough, for being able to

continue also its path as an independent company group.

For us it is decisive, to increase the economic value of the

company group. This will be achieved, when we invest

the money, available to us, in such a form, that the quality

of the return increases - on the one hand by making

the cake larger, on the other hand by way of more stable

operating earnings.

As a publicly listed corporation, however, one cannot

disregard the matter of size. Lanxess itself, here has

special experience. After the rise into the DAX30 Stock

Index of the largest German listed corporations in 2012,

followed the descent last year into the MDAX Stock Index

of the 50 medium sized German listed corporations, and

thereby the loss of a number of institutional investors,

due to the decreased size.

The evaluation of the corporation always takes place on

the basis of the presented data and of the expectations.

We are stepping up in order to increase the valuation, and

we are convinced, that we are on the right path. This is also

like the investors look at us.

Exactly against this background, there is the question,

why Lanxess wants to put 200 mio Euro into the buyback

of its own shares? Nothing changes through this as to the

value of the corporation.

With the closing of the joint venture we have received a

revenue of 1,2 mio Euro. We have decided, to put a part of

the revenue into organic growth, a part into deleveraging,

and a part into a share buyback. This form of allocation we

do regard as adequate and reasonable. And with the share

buyback, we increase the corporation value per share.

Has there been pressure from the investors?

No. We simply want to be transparent. We have various

stakeholders, whom we want to serve. To our employees

we have signalled, that we do invest, to the creditors that

we are reducing the debt, and to the shareholders that

we are giving back something to them because they have

helped us two years ago at the start of our re-orientation.

You want to invest 400 mio Euro into organic growth. Do

you have, other than the announced further investment

into a production plant of fine chemicals, already other