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news


Lanxess acquires Chemtura to grow in flame retardants...


German polymers and speciality chemicals company Lanxess is poised to become one of the world’s largest players in flame retardants with its planned acquisition of Chemtura. The €2.4bn deal, representing a 7xEBITDA ratio, is definitive and will be funded via a mix of bonds and cash. Lanxess said the acquisi- tion, which was approved unanimously by both boards, should be accretive to earnings in the first fiscal year with predicted annual synergies of some €100m expected by 2020. The deal should close around mid-2017, subject to approval by Chemtura shareholders and regulatory approvals. Headquartered in Philadel- phia in the US, Chemtura has 20 sites in 11 countries and some 2,500 employees. Over the past four quarters it posted sales of about €1.5bn, 45% in North America, and an EBITDA before exceptionals of €245m for a margin of 16%.


The Lanxess headquarters in Cologne, Germany


Keystone bolts on CSS


US-headquartered indus- trial colorant specialist Keystone Aniline has acquired Colour Synthesis Solutions (CSS) of Manches- ter, UK, which offers coloured and non-coloured fine chemicals, plus bespoke chemistry services. The company said CSS


Lanxess expects the flame


retardant additives market in general to grow at 3-4%/year over the medium term. Brominated flame retardant additives, together with elemental bromine and further bromine derivatives, form one of two key businesses being acquired (Chemtura is a major supplier and is backward- integrated into raw materials). These will be combined with Lanxess’s existing position in phosphorus-based products


via its Rhein Chemie Additives (ADD) business. The other major comple-


mentary business - lubricant additives and synthetic lubricants for industrial applications - will also become part of ADD, which currently employs around 1,600 at 20 sites supplying speciality additives and service products for plastics, rubber, lubricants and colorants. ❙ www.lanxess.comwww.chemtura.com


will be integrated into the operations of Keystone Europe in nearby Hudders- field, UK, but will remain in Manchester and retain its name and brand. Keystone CEO John


Andrews said: “Bringing their custom dye synthesis and research expertise into our service platform enables us to raise the bar again in colour chemistry. Our clients now have full access to a complete solution: dye creation, synthesis route and full scale-up commer- cialisation.” ❙ www.dyes.com


…and marks 90-year pigment milestone


Lanxess recently marked 90 years of production of iron oxide and chrome oxide pigments at its Krefeld-Ürdin- gen site with a special celebration with the local authorities, including the launch of a new ‘Learn Better’ two-year initiative for educa- tional institutions and youth organisations. Krefeld-Ürdingen is said to


be the largest site of its kind in the world and is Lanxess’s


www.compoundingworld.com


second largest overall. It produces 280,000 tonnes/year of colour pigments and has made a total of more than 13m tonnes since it started production in 1926. It is best known for the Bayferrox range, which is used, among many other places, on the Eiffel Tower in Paris and the red asphalt in front of Bucking- ham Palace in London. Bayferrox products are now also produced at Ningbo in China. ❙ www.bayferrox.com


Pigment production at the Lanxess plant at Krefeld-Ürdingen October 2016 | COMPOUNDING WORLD 5


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