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(33) Related parties

In the course of its operations, the LANXESS Group sources materials, inventories and services from a large number of business partners around the world. These include companies in which LANXESS AG has a direct or indirect interest. Transactions with these companies are carried out on an arm’s-length basis.

Transactions with companies accounted for in the consolidated financial statements using the equity method and their subsidiaries mainly comprised the purchase of site services in the fields of utilities, infrastructure and logistics totaling €479 million (2011: €457 million). As a result of these transactions, trade payables of €38 million (2011: €35 million) and trade receivables of €4 million (2011: €6 million) existed as of December 31, 2012. Further, a provision of €29 million was recognized as of December 31, 2012 for the claim by Currenta GmbH & Co OHG, Leverkusen, Germany, for the offsetting of a loss for 2012. Payment obligations to these companies under operating leases or under purchase agreements relating to planned or ongoing capital expenditure projects in the area of property, plant and equipment are immaterial.

Contingent liabilities relating to investment accounted for using the equity method are outlined in the previous section. Information on the compensation of the Board of Management and Supervisory Board can be found in the next section.

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