LANXESS AG is the parent company of the LANXESS Group and functions largely as a management holding company. LANXESS Deutschland GmbH and LANXESS International Holding GmbH are wholly owned subsidiaries of LANXESS AG and in turn control the other subsidiaries and affiliates both in Germany and elsewhere.
A list of the principal direct and indirect subsidiaries of LANXESS AG and a description of the Group’s management and control organization are provided in the Financial Report 2013.
Changes in the Group portfolio
In the first quarter of 2014, LANXESS divested its wholly owned subsidiary Perlon-Monofil GmbH, Dormagen, Germany. There were no further changes in the Group portfolio in the reporting period. Details about the scope of consolidation are provided in the Notes to the Condensed Consolidated Interim Financial Statements as of March 31, 2014.
Business and strategy
The LANXESS Group is structured in three segments comprising a total of 14 business units, each of which conducts its own operations and has global profit responsibility. No changes have been made to the Group’s organizational structure or strategy so far this year. The business units are supported by centralized services and by local organizations in the countries. Further details are given in the Financial Report 2013.
There were no material changes to the production base, product portfolio or principal sales markets in the reporting period.