(Adds financial adviser details, scope of strategic review)
FRANKFURT Aug 6 The chief executive officer of
German synthetic rubber maker Lanxess said Wednesday
the search for strategic partners was likely to continue into
next year as internal restructuring measures have taken
precedence so far.
CEO Matthias Zachert said in May he would not rule out
setting up joint ventures with strategic partners to tackle
production overcapacity and weak prices in the synthetic rubber
He said on Wednesday that talks were ongoing.
Two people familiar with the strategic alternatives review
said Evercore Partners Inc, a boutique U.S. investment
bank, was working alongside Lanxess on the process. A full slate
of options was on the table, one of the people said.
Zachert has said he was not looking for a "quick fix" but
sought to restructure the company over the next two to three
Representatives from Lanxess and Evercore declined to
(Reporting by Ludwig Burger in Frankfurt and Mike Stone in New
York; Editing by Harro ten Wolde and Bernadette Baum)