Monday, April 25, 2016

Lanxess wants to buy business for sanitation and hygiene solutions from Chemours – FAZ – Frankfurter Allgemeine Zeitung

COLOGNE (Reuters) – specialty chemicals group Lanxess & lt; LXS.ETR & gt; has announced its first acquisition after the realignment. From US chemicals group Chemours Cologne want to buy the business for sanitation and hygiene solutions, as the company announced on Monday. The purchase price of around EUR 210 million will be financed from existing cash resources. If the authorities should agree to be consummated the transaction in the second half 2016.

“We want to strengthen our position, particularly in medium-sized and less cyclical markets with high margins and good growth prospects,” said CEO Matthias Zachert. The expansion of the specialty chemicals business Lanxess doing “more profitable and stable”. The acquisition will have a positive effect in the first financial year to earnings per share. The annual contribution to earnings before interest, taxes, depreciation and amortization (Ebitda) is expected to rise by 2020 gradually to around 30 million euros.

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The business area approximately 170 employees worldwide and three production sites in Memphis and North Kingstown, USA, and British Sudbury. 2015 had a turnover of around 100 million euros, about half of them in North America area. The business includes various active ingredients and specialty chemicals, in particular for sanitation and hygiene solutions. One of the core products is the disinfectant Virkon S, which is used worldwide in the animal health and thereby also in the fight against epidemics such as foot and mouth disease or bird flu.

The strong dependence of the tire and automotive industry DAX.ETR & gt; had the former Dax Group & lt; brought in recent years in distress. The car crisis in Europe and self-created overcapacity, particularly in Asia had triggered a sharp rubber price decline. Lanxess as the world’s largest producer of synthetic rubber was particularly hard underneath. With job cuts and a reorganization of production, the group headed towards. For room last saw a rubber joint venture with the largest oil and energy company in the world, the Saudi Saudi Aramco. This flushes Lanxess around 1.2 billion euros in the Kasse./jha/stb

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