LANXESS China - LANXESS Acquires Polyol Specialist in China

Jiangsu Polyols Chemical Co., Ltd.Store this angel in big sizeFurther anniversary in company’s BRIC strategy

Shanghai – The specialty chemicals aggregation LANXESS AG is deepening its bazaar attendance in the important Asia arena by accepting the business and assembly assets of Jiangsu Polyols Chemical Co. Ltd. in Jiangsu province, China. Both parties accept agreed not to acknowledge the acquirement price. Closing is accepted in the third division of 2009.

Jiangsu Polyols mainly produces trimethylolpropane (TMP) that is acclimated in lubricants, paints and coatings. LANXESS’s business assemblage Basic Chemicals is already a above supplier of TMP in China and will accommodate Jiangsu into its all-around operations.

”This is a added anniversary in our abiding advance action for BRIC countries, “said Axel C. Heitmann, Chairman of the LANXESS Board of Management, “In addition, we are underlining our charge to the important Chinese bazaar in these difficult times.”

The Chinese medium-sized company, which was founded in 2006, is amid in Liyang, west of Shanghai. Jiangsu Polyols accomplished sales of about EUR 10 actor in 2008 and currently employs some 170 agents at a ability with aggressive technology.

With some 1,000 advisers worldwide, the Basic Chemicals business assemblage is one of the arch manufacturers of raw abstracts for agrochemicals, polymers, apparent coatings and pigments. It operates several assembly sites in Germany, China and the United States. The Basic Chemicals business assemblage belongs to the Advanced Intermediates segment, which accomplished absolute sales in 2008 of EUR 1.3 billion. The articulation has accurate to be one of LANXESS’ added abiding businesses in the bread-and-butter crisis due to its acknowledgment to the agrochemical industry.

During a columnist appointment in Shanghai, Martin Kraemer, CEO of LANXESS Greater China, remarked: “This accretion is addition footfall in deepening our arch businesses actuality in China –and added affidavit of our acknowledged China strategy. We are extending our agent and assembly abject alternating our aisle of long-term, acceptable growth.”
Jiangsu Polyols is LANXESS’ additional accretion in China afterward the takeover in June 2008 of the better and a lot of avant-garde plants for chicken adamant oxide pigments in China from Jinzhuo Chemicals Company Ltd. in Jinshan abreast Shanghai. This adequate the bazaar position of the LANXESS Inorganic Pigments business unit, ensuring an absolute accumulation of raw materials.

LANXESS aswell appear today that it has acquired the businesses and assets of stock-market-listed Indian aggregation Gwalior Chemical Industries Ltd. for EUR 82.4 million, including debt.

This is LANXESS’ aboriginal accretion in India and added strengthens the portfolio of the Basic Chemicals business unit. Gwalior is a arch architect of benzyl articles and sulphur chlorides for the agrochemicals, pharmaceutical, color as able-bodied as acidity & aroma industries

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LANXESS is a baton in specialty chemicals with sales in 2008 of EUR 6.58 billion and currently about 14,600 advisers in 23 countries. The aggregation is represented at 44 assembly sites worldwide. The amount business of LANXESS is the development, accomplish and auction of plastics, rubber, intermediates and specialty chemicals.

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