LANXESS owns a diversified product portfolio. Its products include basic and fine chemicals, plastic colorants and inorganic pigments, and specialty chemicals for makers of wood, metal, leather, paints, plastics, energy, and electronics products. Its largest segment is Performance Polymers, which makes rubber products that are used to manufacture automobile tires. The company maintains operations in more than 20 countries worldwide. LANXESS targets the large emerging economies of Brazil, China, India, and Russia to help it offset downturns in Western markets. In 2016 the company agreed to buy Chemtura in a $2.5 billion deal.