Specialty chemicals company Lanxess announced that it has successfully completed the acquisition of the phosphorus chemicals business from Solvay. The transaction includes the Belgian chemicals group's production site in Charleston, South Carolina.
Cologne/Germany and Charleston/USA — The site in Charleston comprises six production plants, where roughly 90 employees manufacture phosphorus chloride plus numerous derivative products such as flame-retardant additives and intermediate products for agrochemicals. The business represents annual sales of approx. $ 79 million.
All relevant antitrust authorities have cleared the transaction. The companies agreed to the purchase in mid-November 2017. In a statement, Lanxess announced that the acquisition was a consistent step in the Group’s growth strategy with a focus on mid-sized markets and the North America and Asia regions.