Lanxess to buy Solvay's phosphorus additives business in US

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.

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