Lanxess Acquires U.S. Biocide Specialist Verichem
Lanxess has acquied Verichem, a Pittsburgh, Pennsylvania, based biocide maker. The German specialty chemicals company said the purchase 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 $10 million in 2010. Verichem's production site is located close to Lanxess' U.S. headquarters in Pittsburgh.
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.
