LANXESS TO DIVEST ITS CHROME CHEMICALS BUSINESS
August 12, 2019 / Mary Page Bailey
Lanxess AG (Cologne, Germany 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. “We have successfully reorganized our chrome chemicals business in recent years. However, it no longer fits in with our strategic focus on specialty chemicals. We are therefore convinced that future growth and the further development of the business can be better implemented under the leadership of Brother Enterprises,” said Matthias Zachert, Chairman of the Board of Management of Lanxess AG. The chrome chemicals business belongs to the Lanxess Leather business unit and generates annual sales of around €100 million. The specialty chemicals company produces these chemicals at two sites in South Africa.