Germany-based speciality chemical company LANXESS has agreed to sell its chrome chemicals business to Chinese leather chemicals manufacturer Brother Enterprises.
The companies have signed an agreement with the transaction depending on the approval by the relevant anti-trust authorities.
LANXESS management board chairman Matthias Zachert said: “We have successfully reorganised our chrome chemicals business in recent years. However, it no longer fits in with our strategic focus on speciality chemicals.
“We are therefore convinced that future growth and the further development of the business can be better implemented under the leadership of Brother Enterprises.”
LANXESS’ Leather unit owns the chrome chemicals business, which annually generates around €100m in sales.
The company owns two sites in South Africa. The Newcastle site manufactures sodium dichromate (Na₂Cr₂O₇), which is partially processed into chromic acid.
The Merebank site produces chrome tanning salts from sodium dichromate. The salts are used in the chrome tanning process for leather.
Under the transaction, Brother Enterprises will acquire the Newcastle plant that employs 220 people.
In addition, LANXESS will manufacture chrome tanning salts for Brother Enterprises until 2024.
The deal is expected to close by the end of this year.
LANXESS reported sales of €7.2bn in 2018. With 15,400 employees in 33 countries, the company has 60 production sites worldwide.
Source: Chemicals Technology
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