Thermoplastic and rubber materials producer Lanxess AG has announced a major restructuring which will lead to 1,000 jobs being cut at its worldwide operations by the end of 2015. The Cologne, Germany-headquartered group will exit from non-core elastomer and monofilaments businesses in the restructuring, which it hopes will achieve 100 million euros in annual savings.
North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.
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