Lanxess completes acquisition Chemtura €2.4 billion

Lanxess completes acquisition of Chemtura for €2.4 billion

6:17 AM, 24th April 2017
Matthias Zachert, CEO of Lanxess AG. (File photo)
Matthias Zachert, CEO of Lanxess AG. (File photo)

COLOGNE, GERMANY: Lanxess AG has successfully completed the acquisition of US-based Chemtura Corporation, one of the main global suppliers of high-quality flame retardant and lubricant additives.

With a total enterprise value of €2.4 billion, Chemtura is the largest acquisition in the history of Lanxess. The acquisition significantly expands the company’s additives portfolio and makes Lanxess one of the world’s leading players in this growth field, which is one of the most attractive in the speciality chemicals industry.

In addition to additives, Chemtura’s urethanes and organometallics businesses will be integrated into the Lanxess portfolio. The company also said that it will absorb some 2,500 Chemtura employees at 20 sites in 11 countries worldwide. The former Chemtura businesses generate annual sales of approximately €1.5 billion. 

Through the acquisition, Lanxess increased its footprint in North America. In this region, the company is now represented at 24 production sites (previously 12) and employs approximately 2,800 staff (previously 1,500). The region’s share in global sales increases from approximately 17 percent to approximately 21 percent.  

“The ‘new’ Lanxess is increasingly taking shape. The expansion of the additives business gives Lanxess an additional strong pillar. In its new set-up and with an even more balanced portfolio, the company will be much more stable and profitable. At the same time, Chemtura considerably strengthens our presence in the North American growth region,” said Matthias Zachert, chairman of the board of management of Lanxess AG.

© Worldofchemicals News 



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Reliance starts commercial production of CBM in Sohagpur, India

MUMBAI, INDIA: Reliance Industries Limited (RIL) said that it has started commercial production from its coal bed methane (CBM) block in Sohagpur, Mad ...

Read more
OCI inaugurates nitrogen fertiliser plant in US

NETHERLANDS: OCI NV (OCI) said that it has opened its wholly-owned subsidiary Iowa Fertiliser Company (IFCo) in Wever in south-east Iowa. Also, the pl ...

Read more
Black phosphorus next wonder material for future electronics

NEW HAVEN, US: Discovered more than 100 years ago, black phosphorus was soon forgotten when there was no seeming use for it. In what may prove to be o ...

Read more
Gevo enters into exchange agreement with Whitebox

ENGLEWOOD, US: Gevo Inc and WB Gevo Ltd (Whitebox), a holder of the Gevo’s issued and outstanding senior secured convertible notes, due June 23, ...

Read more
INOX Air Products to build six air separation units in India

LEHIGH VALLEY, US: Air Products and Chemicals Inc said that INOX Air Products Ltd its joint venture (JV) in India, will build six new air separation u ...

Read more
Avantor acquires cGMP materials supplier in US

CENTER VALLEY, US: Avantor Performance Materials LLC has acquired Puritan Products Inc, a supplier of current good manufacturing practice (cGMP) buffe ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X