Lanxess to buys Gwalior, Jiangsu Polyols

ERJ staff report (DS)

Leverkusen Germany -- Lanxess AG has

bought two chemical companies in Asia. Neither is directly concerned

with the rubber industry. Both will be absorbed into Lanxess' Basic

Chemicals business unit.

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