German Lanxess says aims to cut 100 mln euros in annual costs
FRANKFURT, Sept 17
FRANKFURT, Sept 17 (Reuters) - Germany's Lanxess, the world's largest maker of synthetic rubber for tyres, said on Tuesday it planned to cut costs by 100 million euros ($133 million) per year from 2015, to counter weak demand from the automotive industry.
As part of a restructuring programme, the group plans to cut about 1,000 jobs and divest non-core assets accounting for about 500 million euros in sales, it said in a statement.
In the medium to long term, it also aims to buy businesses to diversify away from its main rubber activities it added.
($1 = 0.7491 euros) (Reporting by Ludwig Burger; editing by David Evans)