Pros
Has a large product portfolio; unfortunately almost all of it is built on old worked-over chemistry. They have collected together a lot of companies through acquisitions, most recently Arch Chemicals, and had (up until about mid 2012) some good prospects for building a successful, competitive business.
Cons
After Lonza acquired Arch, they were stuck with such a high debt load that they had to make massive cuts in staff, close down offices, cut product R&D, and in general put themselves on a path to go out of business. Lonza did not learn from the business and technical expertise that came from its acquisitions. They have at all costs protected their Lonza legacy upper and mid-management but sacrificed good leaders that came from the acquired companies. This is playing out very poorly, and has resulted in poor morale. Hard work does not pay off at this company. Instead, the only thing that seems to matter is where you are located. If you happen to be at one of the Arch legacy sites, protect your future by seeking employment somewhere else before your position gets cut.