Lanxess completes sale of chrome chemical business

German specialty chemicals company Lanxess has completed the sale of its chrome chemicals business to Chinese leather chemicals producer Brother Enterprises for €80m ($89m). The deal was first announced on 12 August last year, when the two companies signed an agreement. Lanxess noted that the transaction obtained all the necessary approvals from the relevant antitrust authorities. A part of Lanxess Leather business unit, the chrome chemicals business has been generating an annual revenue of nearly €100m ($111m). Lanxess has been producing chrome chemicals at two locations, namely Newcastle and Merebank in South Africa. The Newcastle plant is engaged in the production of sodium dichromate, which is partly processed into chromic acid.