Durability + Design
Follow us on Twitter Follow us on LinkedIn Like us on Facebook Follow us on Instagram Visit the TPC Store
Search the site

 

Advertisement

Durability + Design (D+D)


D+D News

Main News Page


Shareholders Approve Global Chemical Merger

Friday, February 10, 2017

More items for Coatings Technology

Comment | More

German specialty chemicals group Lanxess AG has announced that its $2.69 billion takeover of U.S.-based Chemtura Corp. has reached an important milestone.

Chemtura (Philadelphia) 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
 
Pratt & Lambert Paints
 
Trusted Performance with Proven Results
 
Pratt & Lambert’s finest, Accolade® Premium Paint & Primer, applies flawlessly with superb hide and long-lasting durability for great results, every time.
 

 
RCI, Inc.
 
RCI Building Envelope Technology Symposium
 
November 13-14, 2017 | Orlando, Florida | Learn valuable design and repair insights from 20 leading design experts. RCI, Inc. is an AIA LU provider. Learn more.
 

 
PPG Paints
 
PURE PERFORMANCE® Interior Latex Paint
 
PPG PAINTS™ Pure Performance interior latex paint delivers a durable finish. Its zero-VOC,* low-odor formula makes it ideal for schools, hotels, hospitals, office buildings, retail spaces, home residences and more. *Colorants added to this base paint may increase VOC level significantly depending on color choice.
 

 
Atlas Material Testing Technology
 
Helping You Put Your Products To The Test
 
  • Outdoor Accelerated Weathering
  • Laboratory Testing Services
  • Accelerated Weathering Instruments

  • www.atlas-mts.com
    atlas.info@ametek.com
 

 
A&I Coatings
 
Vitreflon – the hallmark of colour stable protective coatings
 
Vitreflon two pack fluoropolymer coatings display unsurpassed colour and gloss retention making Vitreflon the coating of choice for high value infrastructure and architecture. Contact us today to find out how Vitreflon can outperform on your next project. Vitreflon distributorships available.
 

 
 
 

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

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


The Technology Publishing Network

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

 

© Copyright 2012-2017, Technology Publishing Co., All rights reserved