Lanxess buy Solvay's phosphorus additives business in US

Lanxess to buy Solvay's phosphorus additives business in US

8:58 AM, 15th November 2017
Lanxess flag logo

COLOGNE, GERMANY: Lanxess AG said that it plans to acquire the phosphorus chemicals business with a US production site from Solvay SA, expanding its additives segment.

Both companies have signed an agreement to this effect. The transaction is expected to complete in the first half of 2018. The acquisition fully complements Lanxess’s strategy to grow its business in mid-sized markets and in the regions North America and Asia.

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.

"With this acquisition, we are benefitting from a North American platform for phosphorus-based speciality chemicals – a key component of our additive business – and are able to further drive our growth in this key region," said Anno Borkowsky, general manager of the additives business unit at Lanxess.

© 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

CB&I to upgrade Indian Oil unit in India

THE WOODLANDS, US: Chicago Bridge & Iron Company (CB&I) has been selected by Indian Oil Corporation Limited (IOCL) for the license, ...

Read more
Westlake prices $500 million of senior unsecured notes

HOUSTON, US: Westlake Chemical Corporation (WLK) said that it has priced it's previously announced underwritten public offering of $500.0 million aggr ...

Read more
AkzoNobel opens first application training centre in Dubai

AMSTERDAM, NETHERLANDS: AkzoNobel NV has opened its first regional application training centre in Dubai, further strengthening its customer service st ...

Read more
Shell increases sell down of shares in Woodside Petroleum

THE HAGUE, NETHERLANDS: Royal Dutch Shell plc (Shell) confirms that, following strong demand from institutional investors, Shell Energy Holdings Austr ...

Read more
Clariant to supply sorbents for RTI desulfurization process

MUNICH, GERMANY: Clariant has signed a global licensing agreement to supply their solid sorbent material for RTI International’s warm gas desulf ...

Read more
Lanxess India expands its CSR thrust in Nagda

NAGDA, INDIA: Lanxess India Private Limited has taken another major step towards creating a sustainable environment in & around Nagda, Madhya Prad ...

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