Lanxess Wraps up IFF Microbial Unit Buy
With the closing, Lanxess rises into the ranks of the world’s largest producers, significantly increasing its portfolio of antimicrobial active ingredients and formulations for material protection, preservatives and disinfectant while strengthening the Cologne-based company’s global presence, especially in the US.
Lanxess CEO Matthias Zachert said the acquisition is “another major boost” for the chemical producer’s Consumer Protection business, which will soon become its strongest segment and is “an important engine” in its stability and profitability drive.
Zachert said more than 250 “highly qualified” new employees will join Lanxess, which is now focusing its efforts on “rapidly integrating the newly acquired business” that will contribute annual sales of $450 million, along with some $100 million in EBITDA.
The transfer to Lanxess, though on schedule, required some time as the business that once belonged Dow Chemical and later to DuPont, before being sold to IFF, first had to be carved out of the flavors and fragrances group.
Author: Dede Williams, Freelance Journalist