The company has recently announced its intention to create an independent legal corporate structure for its High Performance Materials (HPM) business.
The portfolio includes the engineering plastics polyamide and polybutylene terephthalate business. The business also includes thermoplstic fiber composites.
The main downstream industries for the HPM products are automotive and electrical and electronics.
According to the company, a separate legal structure will enhance flexibility to be able to meet growth opportunities in a market that is transitioning to new forms of mobility.
The press note adds that “the business unit employs around 1,900 people at 14 sites worldwide. Sales are in the low single-digit billion euro range.”