Specialty chemicals company Lanxess is increasing its German pension plan assets by €100 million. The pension provisions, which amounted to €1.135 billion at the end of the second quarter of 2020, are reduced accordingly.

The Group-wide funding status of pension obligations improves from around 56 percent to around 60 percent with this transaction.

“We are again adding to our pension assets in order to further safeguard our company pension scheme. Future-proof pensions for our employees are of great importance to us,” said Michael Pontzen, Chief Financial Officer of Lanxess.