03-Jun-2021 - LANXESS AG

LANXESS completes sale of its organic leather chemicals business

Specialty chemicals company LANXESS completed the sale of its organic leather chemicals business to TFL Ledertechnik GmbH on June 1, 2021. TFL is a global supplier of leather chemicals and a portfolio company of US investment firm Black Diamond Capital Management, L.L.C. All relevant antitrust authorities have granted the necessary approvals for the transaction, which was announced in August 2020.

The purchase price comprises a fixed component of EUR 80 million. Furthermore, the agreed trade working capital mechanism will lead to a payment of around EUR 20 million, to be paid out in the third quarter. In addition, there will be a performance-related component of up to 115 million euros, to be paid out over the next three years. TFL has also assumed certain liabilities associated with the business. With the sale, all operations of the organic leather chemicals business line with around 420 employees have been transferred to TFL.

In January 2020, the specialty chemicals company had already divested its chrome chemicals business and, at the end of 2019, signed an agreement to sell its stake in the South African chrome ore mine. LANXESS is thus exiting the leather chemicals business completely. Since the end of 2019, the company has reported the Leather business unit as a discontinued operation.

Facts, background information, dossiers
More about Lanxess
  • News

    LANXESS makes strong start to fiscal year 2022

    In a challenging environment, specialty chemicals company LANXESS made a strong start to the year 2022. It confirmed the preliminary figures for the first quarter released on April 19. LANXESS is also confident going into the second quarter, in which the Group expects EBITDA pre exceptional ... more

    LANXESS significantly increases sales and earnings in fiscal year 2021

    LANXESS closed fiscal year 2021 successfully. Despite immense increases in energy, raw material and freight costs, the specialty chemicals company significantly improved its sales and earnings. Group sales amounted to EUR 7.557 billion in 2021, up 23.8 percent on the previous year’s figure ... more

    Lithium project: LANXESS and Standard Lithium agree on next steps

    LANXESS and Standard Lithium have signed an agreement setting forth the path forward for their lithium project. After 20 months of testing on the basis of a pilot plant Standard Lithium will now in a next step, conduct a Front End Engineering Design (FEED) study in order to evaluate the pot ... more

  • Companies

    LANXESS Deutschland GmbH

    LANXESS is a leading specialty chemicals company and operates in all important markets of the world. Its core business comprises the development, manufacture and sale of high-tech plastics, high-performance rubber, specialty chemicals and intermediates. In addition, it helps its customers i ... more

    LANXESS S.A.

    LANXESS is listed as the fourth largest German Chemistry Corporation in the Frankfurt Stock Exchange. With our extensive portfolio we are active in all the markets of the world. Our product pallet ranges from base, specialty and fine chemicals to plastics and rubbers. In addition, we sup ... more

    LANXESS Sybron Chemicals Inc.

    LANXESS Sybron Chemicals Inc., provides world-class ion exchange resins to meet the needs of numerous applications. The global strength of Lewatit ion exchange resins in industrial water and chemical processing markets is joined with the solid position Ionac ion exchange resins enjoy in the ... more