Lanxess to acquire Solvay’s U.S. phosphorus additives business
The acquisition includes a production site in Charleston, South Carolina, with roughly 90 employees and approximately 65 million euros in sales.
November 15, 2017 by Canadian Plastics
In a move to expand its additives segment, German specialty chemicals company Lanxess is acquiring the U.S.-based phosphorus chemicals business of Belgian chemical group Solvay.
The terms of the deal have not been disclosed.
Solvay’s phosphorus chemicals business includes a U.S. production site in Charleston, S.C., which has six production units and employs about 90 workers. The business, which produces phosphorus chloride plus numerous derivative products such as flame-retardants, represents annual sales of around 65 million euros.
“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 Lanxess’ additives business unit.
The transaction is expected to close in the first half of 2018.