Press Releases: 03/30/2011

LANXESS Corporation Signs Five-Year North American Agreement with Odyssey Logistics & Technology

Industry experience, patented technology and cost transparency cited as key differentiators

DANBURY, Conn. (Mar. 30, 2011) — Odyssey Logistics & Technology Corporation (OL&T), announced today that it has entered into a five-year managed logistics service agreement with LANXESS Corporation, a leading specialty chemicals company with North American headquarters in Pittsburgh, PA. OL&T is a global logistics and transportation service provider for the chemical and process industries.

OL&T will manage inbound and outbound logistics for most of LANXESS’ business across North America, including complete transportation services such as carrier selection and qualification, contract negotiations, claims and non-conformance management and reporting, as well as tendering and freight audit and payment services.

The LANXESS enterprise resource planning system has been integrated with the Odyssey Global Logistics PlatformSM, a patented technology infrastructure that provides a single, integrated transportation management system. This will enable LANXESS to view transportation activities, regardless of mode, through a single portal provided by OL&T. As a result, LANXESS expects to improve its logistics performance and operate more efficiently.

“We are very focused on quality and safety as well as the efficiency that can drive steady improvements for our business, and with the selection of Odyssey, we believe that we are on the path to continuous improvements,” said LANXESS Head of Logistics Management Eric Smith.

“We are very pleased that LANXESS has selected OL&T,” said Kevin Land, vice president of global solutions, Odyssey Logistics & Technology. “OL&T are specialists in the chemical and process industries and we are aware that every shipment we handle for LANXESS is crucial for its business and company reputation.  We look forward to working with LANXESS and adding value to their portfolio by incorporating our industry expertise with quality and efficiency.”

About LANXESS

LANXESS is a leading specialty chemicals company with sales of EUR 5.06 billion in 2009 and currently around 14,700 employees in 24 countries. The company is represented at 45 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals.

About OL&T

Odyssey Logistics & Technology (OL&T) delivers a comprehensive portfolio of managed logistics and third-party services to the global chemical and process manufacturing industries. The Odyssey Global Logistics PlatformSM is OL&T’s technology infrastructure, and features a proprietary net-native transportation management system that supports the safe, reliable and efficient delivery of client products throughout the world.

With double-digit average annual revenue growth for the last five years, OL&T moves products with more than $55 billion in value between 185,000 origins and destinations and 220 ports worldwide, servicing midsize to large global chemical and process industry clients.

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