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LANXESS acquires Chemtura site in El Dorado
Pittsburgh/El Dorado – With the acquisition of U.S. company Chemtura effective April 21, specialty chemicals company LANXESS is also acquiring the production site in El Dorado, Arkansas, which currently employs approximately 430 company employees along with approximately 150 contract employees. Bromininated flame retardant additives, bromine and further bromine derivatives are produced there. The acquisition of Chemtura makes LANXESS one of the world’s leading suppliers of flame retardant additives.
“El Dorado is the key location for our global flame retardant additives business in regards to both product development and production. The innovative products and technologies there are an outstanding fit for our existing portfolio and are important to our growth plans in this area. At the same time, this new LANXESS location further expands our presence in North America,” explains Anno Borkowsky, Head of the Additives business unit at LANXESS. “We warmly welcome our new colleagues to the LANXESS family and look forward to working together with them in the future.”
Growth region North America
North America is a key growth market for LANXESS and currently accounts for around 21 percent of the company’s global sales. The company has 24 production sites and about 2,800 employees in the NAFTA region overall. LANXESS predicts annual medium-term growth of 3 to 4 percent specifically for the flame retardant additives market, driven primarily by the trend toward energy-efficient buildings.
Commitment for local schools and Boys and Girls Club
The specialty chemicals company is getting actively involved as a corporate citizen at its new location from day one and has launched a corresponding program: it is pledging a total of USD $250,000 over the next five years to support local schools’ STEM programs. “It is part of our corporate philosophy to actively assume social responsibility in the communities surrounding our sites – all around the world. That’s why back in 2008 we launched a global education initiative with which we support school students in the field of the natural sciences in particular. In the coming months we shall join representatives of the local school districts to work out some specific projects for El Dorado,” said Borkowsky at a meeting with community leaders.
In addition, LANXESS will sponsor the El Dorado Boys and Girls Club with a donation of USD $10,000 as part of its commitment. The club offers leisure activities and education programs for children and young people between the ages of six and 18, in particular those from disadvantaged backgrounds.
Jim Tucker, El Dorado School District Superintendent commented, “The El Dorado School District is very excited about this announcement. This dedication to STEM in Union County is a major plus for our students, and for the state of Arkansas.”
Local Site Manager Joey Hamlin, stated, “A commitment of this nature to our local schools’ STEM programs is truly an exciting project as we intergrate LANXESS into our community. It portrays the company’s desire to foster educational activities in our area that further supports our future workforce.”
LANXESS is a leading specialty chemicals company with sales of EUR 7.7 billion in 2016 and about 19,200 employees in 25 countries. The company is currently represented at 75 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives, specialty chemicals and plastics. Through ARLANXEO, the joint venture with Saudi Aramco, LANXESS is also a leading supplier of synthetic rubber. LANXESS is listed in the leading sustainability indices Dow Jones Sustainability Index (DJSI World) and FTSE4Good.
Pittsburgh, April 24, 2017
This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accept any liability whatsoever arising directly or indirectly from the use of this document.