September 17, 2013 / 7:49 PM / 4 years ago

German Lanxess says aims to cut 100 mln euros in annual costs

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

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