LANXESS divests textile processing chemicals business

LANXESS textile processing chemicals business to be acquired by Dutch investor Egeria and business unit management

14-Nov-2006

Lanxess is divesting its textile processing chemicals business. All the activities of the Textile Processing Chemicals (TPC) business unit outside of North America are to be acquired by Dutch investor Egeria and business unit management. The included business has sales of about EUR 130 million and employs some 330 people. With respect to the North American activities of TPC, other options are being examined. The purchase price is EUR 54 million. The completion is expected to take place by the end of the year. The business will, after completion of the transaction, be renamed into Tanatex Chemicals BV.

The TPC business unit employs some 380 people worldwide. LANXESS had announced the closure of the U.S. site at Wellford, South Carolina, as part of its second restructuring package. However, an evaluation of the future perspectives for the business unit textile processing chemicals has revealed other possible options for the activities in North America.

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