Lanxess to join DAX in September

Tyre manufacturing chemical supplier Lanxess AG is to join German benchmark index DAX 30, effective 24 September 2012, according to the Stock Indices Working Group of Deutsche Boerse AG. Lanxess shares closed at 60 euros on 5 September (the day the news was announced.

The DAX (Deutscher Aktien IndeX) consists of 30 major German companies trading on the Frankfurt Stock Exchange. Prices are taken from the electronic Xetra trading system. According to Deutsche Boerse AG, the operator of Xetra, DAX measures the performance of the 30 largest German companies in terms of trading volume and market capitalisation.

“After seven successful years in the M-DAX, we are pleased that we will soon be included among Germany’s 30 largest listed companies,” said Axel C. Heitmann, chairman of the Board of Management of Lanxess AG. “This is a proud moment for us all and at the same time challenges us to continue to strive for profitable growth. My thanks go to all of our employees worldwide, without whose unremitting efforts we would not have come such a long way.” 

“In the future, we will continue to focus on the emerging markets and on innovative premium products for the global megatrends of mobility, agriculture, urbanization and water,” Heitmann added. 

Lanxess was entered as an independent company in the Cologne commercial register on 28 January 2005. Shares in the business were first traded on 31 January 2005 and were included in the stock index DAX for just one day to enable the DAX to be correctly computed. That day, the company’s shares closed at 15.75 euros. It was the first time in the history of that DAX that it comprised of 31 companies.

The company has also built on its historical roots, which include the invention of synthetic rubber by Prof. Fritz Hofmann back in 1909. Today, Lanxess has customers in a broad range of industries – from tyres, automotive, agriculture and construction to electrical/electronics and pharmaceuticals. A major focus is on high-performance rubbers for the production of so-called green tyres. 

Lanxess is also a member of the leading sustainability indices Dow Jones Sustainability Index (DJSI) World and FTSE4Good.