2011-11-11

LANXESS acquires Pittsburgh biocide specialist Verichem

  • LANXESS broadens global biocide manufacturing platform
  • Strengthening focus on megatrend urbanization

Leverkusen/Pittsburgh/Shanghai-November 11, 2011 – LANXESS is strengthening its portfolio of biocides with the acquisition of Verichem Inc. based in Pittsburgh, Pennsylvania. As a result, the German specialty chemicals company will significantly bolster its position in the U.S. material protection market and broaden its global biocide manufacturing network. Both parties have agreed not to disclose financial details.

 

LANXESS will gain access to a complementary portfolio of biocides, as well as active ingredients registered with the U.S. Environmental Protection Agency (EPA). They are used to protect coatings, adhesives, construction materials, as well as pulp and paper. The biocides prevent the deterioration and discoloring of materials caused by microorganisms.

 

Verichem is a privately owned company currently employing around 20 people. It recorded sales of roughly USD 10 million in 2010. Verichem's production site is located close to LANXESS’ U.S. headquarters in Pittsburgh.

 

“This transaction underlines LANXESS’ standing as a key supplier of high-tech solutions for the megatrend urbanization,” said Rainier van Roessel, Member of the LANXESS Board of Management. “In addition, this is the second acquisition we have made in the USA within a few weeks, thus strengthening our commitment to the North American market.”

 

The transaction will close with immediate effect. Verichem will be integrated into the LANXESS business unit Material Protection Products (MPP).

 

MPP is already one of the world’s leading suppliers of biocides. It has recently strengthened its position as a supplier to the construction industry after acquiring the material protection business of Syngenta.

 

MPP also offers stabilizing agents for beverages and is the world’s leading manufacturer of phenolic active ingredients for disinfection. Its production sites are located in Krefeld-Uerdingen and Dormagen (Germany), Jhagadia (India) and Wuxi (China). The business unit is headed by Torsten Derr and currently employs around 300 people.

 

LANXESS is a leading specialty chemicals company with sales of EUR 7.1 billion in 2010 and currently around 16,100 employees in 30 countries. The company is at present represented at 47 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals.


Forward-Looking Statements.
This news release may contain forward-looking statements based on current assumptions and forecasts made by LANXESS AG management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

 

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Contact

Charlene Pan

Charlene Pan
Corporate Communications

LANXESS Chemical (China) Company Limited

6F, 5 Corporate Avenue

150 Hu Bin Road, Huangpu District

200021 Shanghai

China, CN

Phone: +86 21 6109 6716

Fax: +86 21 6109 6717

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