International. Specialty chemical company Lanxess said it has successfully completed the acquisition of U.S. company Chemtura, a global supplier of flame retardant additives and lubricants, ahead of schedule.
All required regulatory authorities have approved the transaction. Already in February 2017, Chemtura's shareholders voted to approve the acquisition. With a total value of €2.4 billion, Chemtura is the largest acquisition in Lanxess' history, which significantly expands the company's additive portfolio and makes Lanxess one of the world leaders in this growth field, one of the most attractive in the specialty chemicals industry.
In addition to additives, Chemtura's urethane and organometallic businesses will be integrated into the Lanxess portfolio. The Cologne specialty chemicals company will absorb some 2,500 Chemtura employees in 20 centers in 11 countries around the world. Chemtura's former businesses generate annual sales of approximately €1.5 billion.
Through the acquisition, Lanxess increased its presence in North America. In this region, the company is now represented in 24 production plants (formerly 12) and employs approximately 2,800 people (formerly 1,500). The region's share of global sales increases from approximately 17% to 21%.
