United States. Specialty chemicals company Lanxess announced the expansion of its additive segment and plans to acquire the phosphorus chemicals business with a U.S. production site of Belgian chemical group Solvay.
Both companies have signed an agreement in this regard. The transaction is projected to close in the first half of 2018, subject to customary regulatory approvals. The acquisition fully complements Lanxess' strategy to grow its business in mid-market markets and in the North American and Asian regions.
The site in Charleston, South Carolina, includes six production units, where approximately 90 employees manufacture phosphorus chloride plus numerous by-products such as flame retardants and intermediates for the agrochemical industry. The business represents annual sales of around €65 million.
"With this acquisition, we benefit from a North American platform for phosphorus-based specialty chemicals, a key component of our additive business, and are able to further drive our growth in this key region," said Anno Borkowsky, Managing Director of the Additives Business Unit at Lanxess.
With annual sales of around €2 billion and approximately 2,000 employees worldwide, the additives business is an important pillar of the Lanxess group.
