LANXESS to sell chemicals biz to Chinese firm
Speciality chemicals company LANXESS is selling its chrome chemicals business to Brother Enterprises, a Chinese leather chemicals producer.
Both companies on August 12, 2019, signed a respective agreement. The transaction is still subject to approval by the relevant antitrust authorities. LANXESS expects to complete the planned transaction by the end of 2019.
The chrome chemicals business belongs to the LANXESS Leather business unit and generates annual sales of around EUR 100 million.
The speciality chemicals company produces these chemicals at two
sites in South Africa.