LANXESS acquires U.S. biocide specialist Verichem
LANXESS broadens global biocide manufacturing platform
LANXESS is strengthening its portfolio of biocides with the acquisition of Verichem Inc. based in Pittsburgh, Pennsylvania. As a result, the German specialty chemicals company 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 USD 10 million in 2010. Verichem's production site is located close to LANXESS’ U.S. headquarters in Pittsburgh.
“This transaction underlines LANXESS’ standing as a key supplier of high-tech solutions for the megatrend urbanization,” said Rainier van Roessel, Member of the LANXESS Board of Management. “In addition, this is the second acquisition we have made in the USA within a few weeks, thus strengthening our commitment to the North American market.”
The transaction will close with immediate effect. Verichem will be integrated into the LANXESS business unit Material Protection Products (MPP).
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