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LANXESS's successful acquisition of Chemours' cleaning and disinfection business follows the acquisition
of Chemours' cleaning and disinfection business
with an investment of approximately EUR 210 million.
The business has several active ingredients and specialty chemicals dedicated to disinfection and hygiene solutions
.
LANXESS used existing liquidity to complete the company's first acquisition since the adjustment plan
.
"This acquisition is our first milestone on the road to growth and a further step towards strengthening our business in North America," said Matthias Zachert, Chairman of the Board of Management of LANXESS AG.
This deal adds to our portfolio of specialty chemicals and we should make it profitable
as soon as possible.
"
The acquisition will be accretive to earnings per share (EPS) from the first fiscal year and will generate EBITDA of EUR 20 million per annum
for LANXESS.
Taking into account synergies, its cumulative EBITDA is expected to reach €
30 million by 2020.
The new business will be integrated into LANXESS' Material Protection Products business unit, which will not only enrich its active ingredient product range, but also expand the value chain of the business unit in the veterinary disinfection segment to end markets
.
The acquired business units have three manufacturing sites
in Memphis, North Kingston in the United States and Sudbury in the United Kingdom.
