LANXESS to Acquire Solvay’s Phosphorus Additives Business
November 20, 2017
LANXESS has announced plans to acquire the phosphorus chemicals business with a U.S. production site from Belgian chemical group Solvay. The transaction is expected to conclude in the first half of 2018, subject to customary regulatory approvals. The acquisition complements LANXESS’s strategy to grow its business in mid-sized markets and in the regions North America and Asia, the company stated.
The site in Charleston, S.C. includes six production units, where approximately 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 this acquisition, we are benefitting 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, general manager of the Additives business unit at LANXESS.