Lanxess acquires US biocide specialist Verichem

Lanxess acquires US biocide specialist Verichem

1:41 AM, 10th November 2011
Lanxess acquires US biocide specialist Verichem
Dr Rainier van Roessel, Board Member, Lanxess.

 

LEVERKUSEN, GERMANY/PITTSBURGH, US: Lanxess is strengthening its portfolio of biocides with acquisition of Verichem Inc based in Pittsburgh, Pennsylvania. As a result, Lanxess will significantly bolster its position in the US material protection market and broaden its global biocide manufacturing network. Both parties did not disclose financial details.

Lanxess will gain access to a complementary portfolio of biocides, as well as active ingredients registered with the US Environmental Protection Agency. They are used to protect coatings, adhesives, construction materials, as well as pulp and paper.

Verichem is a privately owned company, recording sales of roughly $10 million in 2010. Verichem’s production site is located close to Lanxess’ US headquarters in Pittsburgh.

“This transaction underlines Lanxess’ standing as a key supplier of high-tech solutions for the megatrend urbanization. In addition, this is the second acquisition we have made in the USA within a few weeks, thus strengthening our commitment to the North American market,” said Dr Rainier van Roessel, Board Member, Lanxess.

The transaction will close with immediate effect. Verichem will be integrated into the Lanxess business unit material protection products (MPP). The division, MPP is one of the world’s leading suppliers of biocides and Lanxess recently acquired the material protection business of Syngenta, as a supplier to the construction industry.

(C) WOC News

 

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