The regional labor court in Düsseldorf already sentenced the former Lanxess employee in a first trial to a compensation payment of around 166,677 euros.
Bayer announced at the end of 2018 that it would sell its stake in Currenta. According to insiders, Bayer actually wanted to sell its stake to the former plastics subsidiary Covestro, but the two sides could not agree on a joint assessment. Covestro is next to Lanxess, also a spin-off from Bayer, the largest Currenta customer. Lanxess boss Matthias Zachert declared at the general meeting in May that he wanted to keep the stake in Currenta. Although he does not rule out anything, as the owner the company is still involved in the strategic direction of his service provider. Apparently, Macquarie has won over with his offer. Lanxess’ stake is valued at around 780 million euros before taxes after deducting debts.
The sale will give Lanxess “additional financial leeway to drive our growth path in specialty chemicals,” explained Zachert. As one of Currenta’s main customers, the specialty chemicals group wants to provide Mira with operational support during the transition phase and keep its stake a few months longer than Bayer. While the former mother expects her part of the transaction to be completed in the fourth quarter, Lanxess expects the end of April 2020. With Mira, an initial ten-year service and supply contracts for the three locations in Leverkusen, Dormagen and Krefeld-Uerdingen, where Lanxess has one Mira assured that it would continue to operate Currenta without any restructuring or planned changes to the existing workforce. “We have committed ourselves not to sell any parts of the company in the first three years,” said Mira Germany boss Hilko Schomerus. “We are convinced of the integrated model of the Currenta Group and will stick to it for the long term.” Currenta is a low-risk investment with an appropriate return. “We are assuming a holding period of ten to twelve years.” In addition, Bayer wants to part with its veterinary medicine business.
CEO Werner Baumann expects a decision to be made by the end of the year. According to insiders, a merger of the division with US rival Elanco is being considered. The sales plans are part of an extensive restructuring that will cost around 12,000 jobs worldwide at the Leverkusen pharmaceutical and agrochemicals group. Source: ntv.de, bad / rts “The Lanxess chemicals group is toying with entering a new business area.
By mid-2020, the MDax Group wants to decide whether to get into lithium production, as a company spokesman confirmed. The technical and economic feasibility is currently being examined. Lithium is required for the manufacture of batteries for electric cars. According to the magazine, the company operates a mine in the United States that could contain the metal.buy biology essay A system is currently under construction to check feasibility. The mine belongs to the US company Chemtura, which Lanxess acquired in 2017.
The technology required will come from the Canadian company Standard Lithium. Source: ntv.de “US star investor Warren Buffett and the state of Singapore have increased their stake in the specialty chemicals company Lanxess. Buffett’s subsidiary Berkshire Hathaway now holds a good 5 percent of the MDax through the reinsurance subsidiary General Reinsurance -Group, as emerged from a voting rights notification. Previously, Buffett had a little more than 3 percent of the former Bayer subsidiary in the portfolio. Singapore increased its share of the vote from 3.4 to a good 5 percent. According to earlier information, Allianz is the largest shareholder of Lanxess 8 percent of the shares. (Dpa) Source: ntv.de “A case of industrial espionage:” Lanxess was able to convict the perpetrators and is bringing them to justice. “(Photo: picture alliance / dpa) How well are German companies protected from industrial espionage?
The Cologne specialty chemicals group Lanxess is taking legal action against a leak in its own ranks. An employee is said to have disclosed business secrets to the Chinese, which sounds like the script for a crime thriller: For years, a senior technical employee at Lanxess is said to have been revealing the chemical company’s business secrets to China. It was about the manufacturing process of a new, promising product.
The public prosecutor’s office in Cologne filed charges against the former employee in June, reports the Reuters news agency, citing information from the authorities. The background is a complaint from Lanxess from the summer of 2016. The Cologne Regional Court must now decide whether to open main proceedings. The accused, who is said to be a 48-year-old German with Chinese roots, faces up to four years in prison. The man is accused of stealing relevant trade secrets about the manufacturing process of the Lanxess product, sending them by email and exploiting them in China. In addition to the former Lanxess employee, who the company has terminated without notice, there is a second suspect in this case who is also a German citizen of Chinese descent.
According to the indictment, the 40-year-old is said to have received the trade secrets and to have been involved in the exploitation in China. He, too, faces a prison sentence of up to four years. Lanxess confirmed to Reuters that a group of people of Chinese origin stole confidential information about an “innovative, not yet profitable product” and attempted to exploit it commercially. The main culprit was a former employee who abused his access to trade and business secrets. “Lanxess was able to convict the perpetrators and is bringing them to justice,” said a company spokesman. “Lanxess has succeeded in averting damage to the business.” The group did not want to comment on any further details. The Düsseldorf Regional Labor Court already sentenced the former Lanxess employee in a first trial to pay damages of around EUR 166,677.
He may also have to compensate for further damage. The accused rejected the allegations in court. However, according to a statement from the regional labor court, the man, who had been in a managerial position since the beginning of 2010, sent emails in Chinese to a “Mr. U in China” between September 2011 and March 2013. These emails included the manufacturing process The Lanxess product also includes a system inventory and material parts list for production. “Mr. U”, on the other hand, is said to have sent a project proposal for a production plant in May 2013 – whereupon the Lanxess employee at the time founded a company to sell the product together with another man in early 2016 and advertised it on the Internet. Representative of the German-Chinese The group also acted as a partner in a GmbH that dealt with import and export and, among other things, dealt with the copied product from China. According to the documents, Lanxess also accuses the men that “Mr. U” is setting up a production facility in China that will produce 400 tons of the copied product annually.
It is not known whether the construction has been completed or the plant is in operation. The public prosecutor assumes that the two men tried to poach Lanxess customers. For example, they are said to have started discussions as a competitor at trade fair events. According to the prosecutor, the case is of particular interest not only because of its cross-border dimension. He was also documented to an unusual extent by the employer in order to advance the investigation. In addition to the evidence presented by Lanxess, the police also searched private rooms.
According to the Cologne Public Prosecutor’s Office, there is a third suspect in addition to the two accused, also of Chinese origin. But this is not tangible. The Cologne law firm Birkenstock, which represents the two accused in the criminal proceedings, said they did not want to speak to Reuters. The law firm did not comment on the allegations by Lanxess or the prosecution’s charges. Attorney Martin Bücher pointed out, however, that it was a highly complex matter and that the prosecution’s indictment was based on “allegations by Lanxess employees.” The defense doubts the objectivity of these reports and will request that external experts assess the matter , it was said.
According to the report from the regional labor court, the former Lanxess employee stated in the proceedings for damages that the information he passed on was not a trade secret. He also did not compete, nor did he intend to build a manufacturing facility in China. The law firm that represented the former Lanxess employee in the civil law proceedings did not want to comment on a Reuters request – which the state labor court forwarded – China is by far the largest market for chemicals. European companies have relied heavily on China’s booming business over the past ten years.
However, there have recently been growing strong competitors in more and more market segments, for example in agricultural chemicals or liquid crystals for flat screens. The Federation of German Industries (BDI) is now calling for more caution when dealing with China: German companies should not make themselves too dependent on the Chinese market According to the draft policy paper of the BDI. It is true that the opportunities offered by economic exchange should be used. “The risks that China poses to us must not be ignored.” In 2017, Lanxess, whose CEO Matthias Zachert is the son of the former President of the Federal Criminal Police Office, achieved 28 percent of its sales of almost ten billion euros in Asia. Foreign companies repeatedly accuse China of stealing ideas and industrial espionage. According to a study published in September by the Fraunhofer Institute for Systems and Innovation Research, the chemical and pharmaceutical industry, together with mechanical engineering, is the second most affected by industrial espionage in Germany, meaning that only the German electronics industry is more targeted by hostile forces. BDI President Dieter Kempf recently warned that the existence of small and medium-sized companies in particular could be jeopardized by the disclosure of trade secrets.
But even large corporations don’t get over it so easily when internal company data is stolen, products are copied or production facilities and supply chains are sabotaged. According to the Federal Office for the Protection of the Constitution, it is hardly possible in individual cases to be between the state due to the close interdependence of state and economy in China to differentiate between industrial espionage and spying on by competing companies. Chinese intelligence services are using social networks like LinkedIn for initiation operations on a large scale, and, given the economic ambitions of China, the country’s espionage activities are likely to increase further, according to the constitutional protection report published in July. Cyber attacks played an increasingly important role. The example of Lanxess shows, however, that dangers can also emanate from one’s own employees. Here the attack came from within.
According to the public prosecutor’s office, thanks to his advancement at Lanxess, the employee received extensive access rights to operating data – sophisticated technologies to hack the systems were not needed in this case. Source: ntv.de, mmo / rts “(Photo: Nicolas Armer / dpa / archive image) Lanxess fell victim to a hacker attack. The malware was discovered in parts of the IT network “in the second half of last year,” said a company spokesman. According to research by Bayerischer Rundfunk and NDR, a hacker group called “Winnti “behind the attack, which is said to be linked to the Chinese state. Lanxess did not want to comment on who could be behind the hacker attack. The chemical company emphasized that appropriate countermeasures were taken immediately after the malware was discovered.
There is no evidence that sensitive, business-relevant data has flowed. Source: ntv.de “” “If the Lanxess share recovers after the price decline of the past few days to the level at which it was quoted a week ago, Long leverage products will then enable high returns. (Photo: picture alliance / dpa) Since the Lanxess share reached an all-time high of just under EUR 75 at the end of January, the share price has come under great pressure. Although the sales figures of the specialty chemicals group even meet the experts’ expectations exceeded expectations, the outlook for the coming year, which was below expectations, increased the pressure on the share again – for risk-ready investors who want to join the latest expert analyzes in which the Lanxess share with price targets of up to 80 euros as a buy or is classified as worthwhile, after the weak price development of the past few weeks a suitable time for the entry into L The HVB call warrant on the Lanxess share with a base price of 66 euros, valuation date 13.6.18, BV 0.1, ISIN: DE000HW3SDT4, was sold at a share price of 65.14 euros at 0.26 – Traded EUR 0.27. If the price of the Lanxess share can increase to EUR 69.60 in one month – the share was last listed on this level on March 13, 2018 – then the tradable price of the call will be around EUR 0.46 (+70 percent) The BNP Open End Turbo Call on the Lanxess share with a base price and KO mark at EUR 61.4118, BV 0.1, ISIN: DE000PP17DD3, was 0.40 – 0.40 at a share price of EUR 65.14. If the Lanxess share succeeds in recovering to 69.60 euros, the intrinsic value of the turbo call – provided the share price does not drop below the KO mark or below – will rise to 0.81 euros (+98 The Société Générale BNP-Open End Turbo-Call on the Lanxess share with a base price and KO mark at 57.3673 euros, BV 0.1, ISIN: DE000SE76MN7, was 0 at a share price of 65.14 euros .79 – 0.80 euros. If the Lanxess share price rises to 69.60 euros, the intrinsic value of the turbo call will increase to 1.22 euros (+53 percent). This contribution does not constitute anything Recommendation to buy or sell Lanxess shares or leverage products on Lanxess shares.