2011-11-10 | U.S. News
LANXESS acquires Pittsburgh biocide specialist Verichem
- Expands presence in western Pennsylvania region
- Strengthens focus on megatrend urbanization
Pittsburgh, PA - LANXESS’ presence in Pittsburgh is growing with its acquisition of biocide manufacturer Verichem Inc. based in Neville Township. With the addition of Verichem’s approximately 20 employees, LANXESS will employ more than 300 people in the region, including those at the company’s North American Headquarters in Findlay Township and its manufacturing facility in Burgettstown.
The purchase significantly bolsters the German specialty chemicals company’s portfolio of biocides, its position in the U.S. material protection market and its global biocide manufacturing network. Both parties have agreed not to disclose financial details.
“LANXESS has been a proud member of the Pittsburgh community since our beginnings in 2005,” stated Randy Dearth, President and CEO of LANXESS Corporation, the global group’s U.S. organization. “We are extremely excited to announce our growth in the region.”
LANXESS will gain access to the privately owned Verichem’s 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.
“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 LANXESS has 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, which recorded sales of roughly USD 10 million in 2010, 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.
About LANXESS
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. LANXESS is a member of the leading sustainable indices Dow Jones Sustainability Index (DJSI) World and FTSE4Good.
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 development.
Information for editors:
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