LANXESS is expanding its activities in Latin America. The specialty chemicals company’s wholly-owned subsidiary Rhein Chemie has acquired Argentina-based Darmex S.A. – a leading manufacturer of release agents and curing bladders for the tire industry.
As a result of the acquisition, Rhein Chemie will become one of the world’s leading providers of release agents for rubber products in a highly fragmented market. It will also acquire Darmex’s bladder technology in Latin America, which is a key production hub for leading tire manufacturers. Darmex’s production sites are located near to Brazil, one of the booming BRIC nations, in which LANXESS has significantly expanded its presence in the last few years.
In the coming years, Rhein Chemie plans to expand its bladder production. The release agents and bladders belonging to Darmex will be branded under Rhein Chemie product names.
Both parties have agreed not to disclose the purchase price. The transaction will close with immediate effect and does not require prior approval by any authority. LANXESS will finance the acquisition from existing liquidity and expects the transaction to be EPS accretive in 2011.