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.

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