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Lanxess to purchase Solvay’s U.S.-based phosphorus business

By Mary Page Bailey |

Solvay

Source: Solvay



Solvay S.A. (Brussels, Belgium; www.solvay.com) has agreed to sell its U.S. facility in Charleston, South Carolina, and the phosphorus derivatives-based products made at the plant, to German specialty chemicals company Lanxess. Employees at the site will also be transferred. 


“The divestment will strengthen Solvay’s focus and resources on our existing leadership positions in phosphine gas, phosphine derivatives and phosphorous specialties,” said Michael  Radossich, President of Solvay’s Technology Solutions Global Business Unit. “With Lanxess, our Charleston employees and our customers will have a buyer with a strategic, geographic and technical fit to expand the business and its offerings.” 


The site in Charleston, South Carolina, includes six production units, where roughly 90 employees manufacture phosphorus chloride plus numerous derivative products such as flame-retardants and intermediates for the agrochemical industry. The business represents annual sales of around €65 million.

“With this acquisition, we are benefitting from a North American platform for phosphorus-based specialty chemicals – a key component of our additive business – and are able to further drive our growth in this key region,” said Anno Borkowsky, General Manager of the Additives business unit at LANXESS.


The products at the site are used primarily as intermediates in plastic additives, flame retardants and agricultural applications. The business represents sales of approximately €65 million. 


Completion of the transaction is subject to customary closing conditions, including antitrust approvals, and is expected in the first half of 2018.

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