LANXESS has announced the successful completion of the purchase of Solvay's phosphorus additives business.
Acquisition
The specialty chemicals company has acquired the business from the Belgian chemicals group after first agreeing to the purchase in November 2017. The deal includes Solvay's production site in Charleston, South Carolina, US, which comprises six production plants and a staff of 90.
The phosphorus additives business is responsible for manufacturing phosphorus chloride and other derivative products including flame-retardant additives and intermediate products for agrochemicals.
Annually, this business segment accounts for some €65 million (£57.6 million) in sales.
LANXESS generated some €7.7 billion in 2016 and has 19,200 employees across 25 countries. This acquisition is the latest move in the company's plan to focus on North America and Asia for growth opportunities in mid-sized markets.
