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LANXESS underpins BRIC strategy with two acquisitions in Asia
09 Jun '09
4 min read
“We have always stated in the past that we are on the look out for small or medium-sized assets that will create value for LANXESS and are a strategic fit for our portfolio,” added Heitmann. “Today's transactions follow on from our successful acquisition of Petroflex, one of the leading Latin American synthetic rubber companies.”
LANXESS will acquire Gwalior's chemical businesses. The acquisition will be financed out of existing liquidity. The transaction is expected to be EPS accretive as of 2010.
LANXESS has a growing presence in India. The headquarters are located in Thane, Maharashtra state, and there is a production site in Madurai, Tamil Nadu state, for leather chemicals, material protection products and the company's wholly-owned subsidiary Rhein Chemie. LANXESS is also building a new production facility for ion exchange resins and relocating its rubber chemicals site from Thane to Jhagadia, Gujarat state. This project will be completed by 2010 and has an investment volume of roughly EUR 50 million.
LANXESS achieved sales of EUR 115 million in India in 2008 and currently employs about 200 people. India is next to China the company's most important market in Asia and an integral part of LANXESS' BRIC strategy. Despite the global economic crisis, India is expected to grow by six percent this year, with a rising middle-class driving demand for chemicals. In 2008, LANXESS achieved sales of around EUR 385 million in China and currently employees about 900 people there. The BRIC countries represented about 16% of the company's group sales in 2008.
LANXESS is a leading specialty chemicals company with sales of EUR 6.58 billion in 2008 and currently around 14,600 employees in 23 countries. The company is represented at 44 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals.
LANXESS will acquire Gwalior's chemical businesses. The acquisition will be financed out of existing liquidity. The transaction is expected to be EPS accretive as of 2010.
LANXESS has a growing presence in India. The headquarters are located in Thane, Maharashtra state, and there is a production site in Madurai, Tamil Nadu state, for leather chemicals, material protection products and the company's wholly-owned subsidiary Rhein Chemie. LANXESS is also building a new production facility for ion exchange resins and relocating its rubber chemicals site from Thane to Jhagadia, Gujarat state. This project will be completed by 2010 and has an investment volume of roughly EUR 50 million.
LANXESS achieved sales of EUR 115 million in India in 2008 and currently employs about 200 people. India is next to China the company's most important market in Asia and an integral part of LANXESS' BRIC strategy. Despite the global economic crisis, India is expected to grow by six percent this year, with a rising middle-class driving demand for chemicals. In 2008, LANXESS achieved sales of around EUR 385 million in China and currently employees about 900 people there. The BRIC countries represented about 16% of the company's group sales in 2008.
LANXESS is a leading specialty chemicals company with sales of EUR 6.58 billion in 2008 and currently around 14,600 employees in 23 countries. The company is represented at 44 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals.
LANXESS India Private Ltd
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