Lanxess Acquires Asian Biocide Specialist PCTS
The German specialty chemicals group Lanxess has acquired Singapore-based PCTS Specialty Chemicals for an undisclosed amount. The transaction closes with immediate effect.
PCTS specializes in biocides for environmentally friendly water-based paints that meet stringent health and safety, as well as environmental standards. Biocides prevent the deterioration and discoloring of the paints caused by microorganisms.
PCTS employs about 20 people at modern production and laboratory facilities close to Lanxess Singapore headquarters. PCTS recorded sales in the single-digit million euro range in 2012, with 60% of it being generated in China. The company was majority owned by NIPSEA Technologies.
PCTS will be integrated into the Lanxess business unit Material Protection Products (MPP), which belongs to the company's Performance Chemicals segment. The PCTS facility will also become the new Asia-Pacific headquarters of MPP. The business unit acquired the U.S.-based biocide company Verichem and the material protection activities of Switzerland's Syngenta in 2011.
Lanxess has been present in Singapore since 2004 and is the home to about 380 employees. Singapore is also the global headquarters to the Butyl Rubber business unit, which began the commissioning phase of its new plant on Jurong Island in the first quarter. The plant is expected to start commercial production in the third quarter of 2013. In addition, the Performance Butadiene Rubbers business unit broke ground last year for a Nd-PBR plant on Jurong Island. Ian Wood is the company's country representative in Singapore.