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Business

Lanxess squeezes Chemtura costs

by Alex Scott
September 11, 2017 | APPEARED IN VOLUME 95, ISSUE 36

Lanxess expects to save $120 million per year by 2020 from its recent acquisition of Chemtura. The firm had previously anticipated savings of about $100 million. Lanxess expects to reap half the savings from synergies in production and procurement, including the optimization of Chemtura processes and technologies. About 30% of savings are expected to come from cuts in administrative costs, primarily in North America. The final 20% will come from streamlining the combined sales and marketing organization. Lanxess has not revealed the impact on jobs.

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