Lanxess debuts.LANXESS DEBUTS. LANXESS, Leverkusen, Germany, the future company where the Bayer Group will combine almost all areas of its chemicals business and parts of its polymers activities, began operating as an independent unit on July 1, 2004. For the moment the new structure only applies internally. LANXESS will be able now to operate largely independently. The company is scheduled to be listed on the stock exchange at the begining of 2005. The decision as to whether this will take place via an IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. or a spin-off The situation that arises when a parent corporation organizes a subsidiary corporation, to which it transfers a portion of its assets in exchange for all of the subsidiary's capital stock, which is subsequently transferred to the parent corporation's shareholders. will be taken over the coming weeks. Until the stock market flotation, LANXESS will operate under the umbrella of the Bayer AG Bayer AG German chemical and pharmaceutical company. Founded in 1863 by Friedrich Bayer (1825–1880), it now operates plants in more than 30 countries. Bayer has originated scores of pharmaceuticals, chemicals, and synthetic materials; it was the first developer and holding company. With sales of around EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 6 billion and around 20,000 employees, of whom approx, 11,000 are in Germany, LANXESS will be one of the leading chemicals companies in Europe. |
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