Lonza sells US Brandenburg facility Monument Chemical

Lonza sells US Brandenburg facility to Monument Chemical

11:05 AM, 29th November 2012
Lonza sells US Brandenburg facility to Monument Chemical
Richard Ridinger, Chief Executive Officer, Lonza.

BASEL, SWITZERLAND/INDIANAPOLIS, US: Lonza Group and Monument Chemical have signed a definitive agreement for sale of substantially all of the assets of Lonza Group’s USA Performance Urethanes and Organics business located in Brandenburg, KY. Formal closing of the agreement is expected prior to year end. Financial terms have not been disclosed.

“While performance urethanes operations is not core to the Lonza portfolio the divestiture of the assets provides the Brandenburg business, with the foundation for continued growth and expansion. Additionally, Lonza can continue to focus on further shaping and moving forward with our strategic activities,” said Richard Ridinger, Chief Executive Officer, Lonza.

“We are excited about the acquisition of the Brandenburg facility - the latest example of Monument Chemical’s continued investment in and growth of its portfolio. The addition of the performance urethanes and organics business provides a strong strategic foundation that will benefit the suppliers, customers and employees of the Monument family,” said Amy Schumacher, President, Monument Chemical.

As part of the Arch Chemicals Inc acquisition in October, 2011 Lonza considered the divestiture of certain Arch business and assets. A formal divestiture process for Brandenburg was initiated in July of 2012.

© WOC News



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