PaintSquare.com
Follow us on Twitter Follow us on LinkedIn Like us on Facebook Follow us on Instagram Visit the TPC Store
Search the site

 

Advertisement

PaintSquare


Coatings Industry News

Main News Page


Chemical Company Deal Progresses

Wednesday, February 15, 2017

Comment | More

A $2.69 billion deal between two specialty chemical companies is moving forward after shareholders of the business that's being acquired gave the merger the green light.

German specialty chemicals group Lanxess AG plans to acquire U.S.-based Chemtura Corp., which is based in Philadelphia. Chemtura shareholders approved the merger a special meeting Feb. 1, Lanxess announced in a press release.

lanxess
Lanxess

In a move to expand its footprint in North America and make it a major player in additives, Lanxess is acquiring Chemtura.

"We are pleased that our stockholders recognize the immediate and substantial value of this compelling transaction,” said Craig A. Rogerson, president and CEO of Chemtura and chairman of its board of directors.

Major Player Strategy

Lanxess (Cologne) says the transaction, first announced in September 2016, will make it a major player in the field of additives chemistry and increase the company’s footprint in North America.

“Additives is a very attractive business field in specialty chemicals,” said Anno Borkowsky, head of the Lanxess business unit Rhein Chemie Additives. “In addition to their relatively low capital intensity, they require strong expertise and enable customized solutions. In this area, both Chemtura and Lanxess have long-standing expertise.”

The companies expect the deal will close in mid-2017, after remaining regulatory approvals are obtained.

Clearance for the acquisition from the U.S. antitrust authorities was received at the end of December 2016.

Forming a New Unit

Chemtura has 20 sites in 11 countries and approximately 2,500 employees worldwide. The company posted sales of $1.7 billion in 2015.

Flame retardant and lubricant additives are “the main pillars of Chemtura’s business and would complement the current Lanxess portfolio,” Lanxess officials say. After closing of the transaction, these two business activities will be integrated with Lanxess’ Rhein Chemie Additives business unit to form a new segment.

Rhein Chemie Additives supplies a broad range of special additives and service products for the manufacture of plastics, rubber, lubricants and coatings. It employs some 1,600 people at more than 20 sites around the world.

In addition to the additives, Chemtura’s portfolio also includes urethanes and organometallics, which will be integrated into Lanxess’ portfolio as well.

Lanxess employs 16,700 workers in 29 countries. The company had sales of EUR 7.9 billion ($8.4 billion USD) in 2015.

   

Tagged categories: Coating chemistry; Coatings raw materials manufacturers; Coatings Technology; Flame-retardant coatings; Lanxess Corp.; Raw materials

Comment Join the Conversation:

Sign in to our community to add your comments.

Advertisements
 
SAFE Systems, Inc.
 
Portable Blast &
Recovery Equipment
 
Trailer or skid mounted blast and recovery equipment. Systems designed for maximum versatility, environmental compliance
and overall cost savings.
Call 1-800-634-7278
 

 
Tarps manufacturing, Inc.
 
QUALITY MADE IN AMERICA —Available near you!
 
CLICK to get a behind-the-scenes look at how Tarps Manufacturing makes the highest-quality tarps right here in the USA — available nationwide.
 

 
ARC / A.W. Chesterton Company
 
Corrosion Resistant Coating
 
ARC HT-S incorporates fine graded sizes of reinforcement which contributes to its excellent permeation resistance, resistance to cold-wall delamination, and resistance to thermal-mechanical shock
 

 
HoldTight Solutions Inc.
 
Clean surfaces simply don't rust, and no other product cleans like HoldTight®
 
HoldTight® is a wet blasting additive that decreases the water’s surface tension, allowing it to get into the pores of the surface and remove ALL contamination, including salts, acids, abrasives, light oils, and greases. HoldTight® leaves behind zero unwanted residue, and evaporates with the water, providing a surface that is thoroughly clean and ready for a tightly adhered coating bond for up to 72 hours.
 

 
Mitsubishi Gas Chemical America
 
Performance Amine 1,3-BAC
 
A highly reactive cycloaliphatic diamine offering superior performance. Reasonable cost and curing efficacy makes it suitable for all types of epoxy resin applications.
 

 
BASF
 
New resins from BASF will have metals loving water!
 
Excellent corrosion resistance, low VOC, high gloss, thin films www.basf.us/industrialcoatings dpsolutions@basf.com 800-231-7868
 

 
Blastox/The TDJ Group, Inc.
 
Blastox® - One Step Lead Abatement
 
Sandblast additive delivered to jobsite pre-blended to eliminate hazardous abrasive wastes. Why mix, meter or apply at the job-site? Blast with ease and
Let your painters paint!
1(800)-252-7869
 

 
Absolute Equipment/Grand Rental Station
 
TIER 4 EQUIPMENT
 
We have Tier 4 Equipment including Air Compressors & Generators for Sale & Rent! Your job may now require Tier-4. www.absoluteequip.com or Call 412-931-6655.
 

 
SABRE Autonomous Solutions
 
Quality
 
The ALPHA1 provides a consistent finish day-in
day-out; job to job.
 

 
 
 

Technology Publishing Co., 1501 Reedsdale Street, Suite 2008, Pittsburgh, PA 15233

TEL 1-412-431-8300  • FAX  1-412-431-5428  •  EMAIL webmaster@paintsquare.com


The Technology Publishing Network

Durability + Design PaintSquare the Journal of Protective Coatings & Linings Paint BidTracker

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy Policy   |   Terms & Conditions   |   Support   |   Site Map   |   Search   |   Contact Us