·         Group-wide pension funding status improves to around 60 percent

·         Safeguarding company pension scheme

Cologne, October 23, 2020 (GPN) – Specialty chemicals company LANXESS is increasing its German pension plan assets by EUR 100 million. The pension provisions, which amounted to EUR 1.135 billion at the end of the second quarter of 2020, are reduced accordingly. The Group-wide funding status of pension obligations improves from around 56 percent to around 60 percent with this transaction.

“We are again adding to our pension assets in order to further safeguard our company pension scheme. Future-proof pensions for our employees are of great importance to us,” said Michael Pontzen, Chief Financial Officer of LANXESS. ENDS

About LANXESS

LANXESS is a leading specialty chemicals company with sales of EUR 6.8 billion in 2019. The company currently has about 14,300 employees in 33 countries. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives, specialty chemicals and plastics. LANXESS is listed in the leading sustainability indices Dow Jones Sustainability Index (DJSI World and Europe) and FTSE4Good.