Lanxess Sells Organometallics to PMC
German specialty chemicals company Lanxess has agreed to sell its organometallics business to US chemicals firm PMC Group. Financial terms were not disclosed.
PMC’s European subsidiary will acquire the business, which includes Lanxess’s global organotin catalyst, organotin specialties and intermediates product lines. The deal also includes a toll manufacturing agreement under which Lanxess will continue to manufacture certain products for PMC at its plant in Bergkamen, Germany, after the sale has concluded.
The transaction is scheduled to close by the end of the year, subject to customary conditions.
The acquisition is the second for PMC this year and follows the purchase of Solvay’s hydrocolloid product line in January through wholly owned French subsidiary PMC Ouvrie. The products are sold to the home and personal care, industrial and coatings markets.