Specialty chemicals company Lanxess has completed its acquisition of US company Chemtura, which supplies flame retardant and lubricant additives.
With a total enterprise value of €2.4 billion, Chemtura is the largest acquisition in the history of Lanxess. In addition to additives, Chemtura’s urethanes and organometallics businesses will be integrated into the Lanxess portfolio and Lanxess will will absorb 2,500 Chemtura employees at 20 sites in 11 countries. The former Chemtura businesses generate annual sales of approximately €1.5 billion.
‘The acquisition of Chemtura is another major step in our realignment process and a significant milestone in our course of growth,’ said Matthias Zachert, chairman of the board of management of Lanxess AG.’ In its new set-up and with an even more balanced portfolio, the company will be much more stable and profitable. At the same time, Chemtura considerably strengthens our presence in the North American growth region.’
Through the acquisition Lanxess has increased its footprint in North America and is is now represented at 24 production sites (previously 12) and employs approximately 2,800 staff (previously 1,500). The region’s share in global sales has increased from approximately 17% to approximately 21%.
This story uses material from Lanxess, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
