Lanxess to Acquire Solvay's US Phosphorus Additives Business
Specialty chemicals company Lanxess AG, Cologne, Germany, is expanding its Additives segment and plans to acquire the phosphorus chemicals business with a US production site from Belgian chemical group Solvay. Both companies have signed an agreement to this effect.
The transaction is projected to conclude in the first half of 2018, subject to customary regulatory approvals. 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 EUR 65 million.
With the divestment Solvay aims to strengthen its focus and resources on its existing positions in phosphine gas, phosphine derivatives and phosphorous specialties.
Would you like to subscribe to our Newsletters on plastics technology and profit from the latest information?
Looking for a new challenge? Check out our jobs market!
Patents encourage innovation: Stay on the ball with the latest innovations in the plastics industry in our patents section.