LANXESS acquires Syngenta’s material protection business

LANXESS acquires Syngenta’s material protection business

3:41 PM, 7th June 2011
LANXESS acquires Syngenta’s material protection business
Dr Rainier Van Roessel, Board Member at LANXESS

  • Lanxess to become a leading biocide supplier for construction materials
  • Long-term strategic partnership between both companies
  • Lanxess strengthens focus on megatrend urbanization

 

LEVERKUSEN, GERMANY/BASEL, SWITZERLAND: Lanxess has agreed to acquire the material protection business of Switzerland’s Syngenta. As a result, the German specialty chemicals company will become one of the leading suppliers of biocides for construction materials. The transaction is expected to close in April 2011 and the companies have agreed not to disclose the acquisition price.

 

Lanxess will gain access to a broad range of fungicidal and insecticidal active ingredients as well as application technologies used to protect construction materials such as wood, wallboards and coatings from being discoloured and damaged. Syngenta’s material protection business generates nearly 90 per cent of sales in Europe and North America. Lanxess will acquire the intellectual property, customer lists, supply contracts and registrations for the Syngenta products. 

 

The acquisition is also the starting point for a long-term strategic partnership between both companies. Lanxess will gain access to active ingredients and technologies developed by Syngenta in the future, for use in material protection. “We are co-operating with one of world’s top innovators for active ingredients, which will ultimately benefit customers. The deal also strengthens our focus on the megatrend urbanization. This trend offers enormous potential for our products that reliably protect construction materials,” said Dr Rainier Van Roessel, Board Member, Lanxess. 

© WOC News

 

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