Wednesday 14 November 2018

Lanxess to acquire Solvay's US phosphorus additives business

BERLIN, November 15, 2017

Germany-based Lanxess, a specialty chemicals group, is expanding its additives segment and plans to acquire the phosphorus chemicals business with a US production site from Belgian chemical group Solvay.

Both companies have signed an agreement to this effect. The transaction is projected to conclude in the first half of 2018, subject to customary regulatory approvals, said a statement from the company.

The acquisition fully complements Lanxess’ strategy to grow its business in mid-sized markets and in the regions North America and Asia, it said.
The site in Charleston, South Carolina, includes six production units, where roughly 90 employees manufacture phosphorus chloride plus numerous derivative products such as flame-retardants and intermediates for the agrochemical industry.

The business represents annual sales of around €65 million ($76.8 million).
Anno Borkowsky, general manager of additives business unit, Lanxess, said: “With this acquisition, we are benefitting from a North American platform for phosphorus-based specialty chemicals – a key component of our additive business – and are able to further drive our growth in this key region.”

With annual sales of around €2 billion ($2.36 billion) and roughly 2,000 employees around the globe, the additives business is an important pillar of the Lanxess group, it stated. – TradeArabia News Service

Tags: | US | business | Solvay | additives | Lanxess |

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