Lanxess Completes Sale of Chrome Chemicals
Lanxess Completes Sale of Chrome Chemicals (c) Lanxess
German specialty chemicals producer Lanxess has completed the sale of its chrome chemicals business to Brother Enterprises, a Chinese leather chemicals producer.
The closing follows approval of the deal announced last August by all relevant antitrust authorities. With the closing, the German company received cash proceeds of about € 80 million.
Brother Enterprises has also acquired Lanxess’s site at Newcastle, South Africa, which employs some 220 people and produces sodium dichromate. Some of the product is processed into chromic acid. In Merebank, South Africa.
Lanxess will continue to manufacture chrome tanning salts from sodium dichromate exclusively for Brother Enterprises on a contract basis, presumably until 2024.
