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LANXESS acquires sites in Middlebury and Naugatuck from Chemtura
Pittsburgh/Middlebury – With the acquisition of U.S. company Chemtura effective April 21, 2017, specialty chemicals company LANXESS is also acquiring the sites in Middlebury and Naugatuck, United States. The acquisition of Chemtura makes LANXESS one of the world’s leading suppliers of lubricant and flame retardant additives.
“Middlebury is an important site for LANXESS. In the future, we will steer our global lubricant additives business and the global supply chain for the entire additives business of LANXESS from this location. Naugatuck is home to our research and development center for lubricant additives, which also plays a key role in our global network and our course of growth in this area. At the same time, these two sites significantly strengthen our presence in North America,” explains Antonis Papadourakis, President and Chief Executive Officer of LANXESS Corporation, Pittsburgh, Pennsylvania. “We warmly welcome our new colleagues to the LANXESS family and look forward to working together with them in the future.” A total of about 250 people are currently employed in Middlebury and Naugatuck.
Through this acquisition, LANXESS is significantly strengthening its competitive position in the area of lubricant additives and synthetic lubricants for industrial applications. The company predicts medium-term growth of 3 to 4 percent annually for this market, driven primarily by steadily increasing demands placed on lubricants as regards performance capability and environmental compatibility.
North America is a key growth market for LANXESS and accounts for approximately 21 percent of the company’s global sales. In the region the company has 24 production sites and about 2,800 employees.
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 21, 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.