Lanxess Expands Additives Business With Solvay Acquisition
Nov. 21, 2017
Lanxess plans to acquire the phosphorus chemicals business with a U.S. production site from Solvay.
Specialty chemicals company Lanxess is expanding its additives segment and plans to acquire the phosphorus chemicals business of Belgian chemical group Solvay, which has a U.S. production site. Both companies have reportedly 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 reflects Lanxess’ strategy to grow its business in mid-sized markets and in North America and Asia, according to the company.
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, according to Lanxess. Lanxess’ additives business reports annual sales of around EUR 2 billion and has roughly 2,000 employees around the world.
