LANXESS strengthens global phthalate-free plasticizer portfolio

Acquisition of US-based UNITEX

19-Oct-2011 - USA

LANXESS is strengthening its global asset base and product portfolio for premium, environmentally-friendly phthalate-free plasticizers. The specialty chemicals company has agreed to acquire UNITEX Chemical Corporation located in Greensboro, North Carolina. Financial details were not disclosed. The transaction also represents LANXESS’ first acquisition of a manufacturing site in the United States.

Privately-owned UNITEX has about 40 employees based at its production site in Greensboro. The site has a capacity of more than 50,000 metric tons per year dedicated to mainly producing phthalate-free plasticizers and other specialty products, including flame retardants. UNITEX achieved sales of about USD 30 million in 2010.

Through this acquisition, LANXESS will gain access to UNITEX’s flexible manufacturing facility coupled with an extensive portfolio of phthalate-free plasticizers, including benzoates, citrates and trimellitates. UNITEX’s product portfolio will strengthen LANXESS’ leading brands of phthalate-free plasticizers, including Mesamoll, Unimoll, Adimoll and Ultramoll. The size of the global phthalate-free plasticizers market is currently estimated at EUR 1.3 billion and is growing at seven percent per year.

“This transaction underlines our technology leadership in specialty chemicals and strengthens our relationship with our customers in the USA – the world’s largest chemical market,” said Rainier van Roessel, Board Member of LANXESS.

“I am delighted that UNITEX will be joining forces with LANXESS, whose focus on technology and strong global standing will give the Greensboro team the platform to achieve even more success,” said George W. Page, former President and owner of UNITEX.

The transaction will close with immediate effect and LANXESS will finance the acquisition from existing liquidity. The UNITEX business will be integrated into the LANXESS business unit Functional Chemicals.

https://www.chemeurope.com/en/news/134886/lanxess-strengthens-global-phthalate-free-plasticizer-portfolio.html