2 Sep 2009
ERJ staff report (DS)
Leverkusen, Germany -- Lanxess AG said it has successfully completed the acquisitions of two chemical companies in Asia. Neither is directly concerned with the rubber industry. Both will be absorbed into Lanxess' Basic Chemicals business unit. Both transactions took economic and legal effect on September 1, 2009.
The German company said it is buying Indian company Gwalior Chemical Industries Ltd for euro 82.4 million and the assets of mid-sized Chinese company Jiangsu Polyols Chemical Co Ltd for an undisclosed sum.
Gwalior makes benzyl products and sulphur chlorides for the agrochemicals and pharmaceuticals as well as for the flavor and fragrance industries. Jiangsu Polyols mainly produces trimethylolpropane (TMP) that is used in lubricants, paints, and coatings.
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Press release from Lanxess
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