Germany's Lanxess acquires U.S.-based Unitex

FRANKFURT (MarketWatch) -- German chemical company Lanxess AG (LXS.XE) Wednesday agreed to acquire U.S.-based Unitex Chemical Corp, as it will help strengthen its global phthalate-free plasticizer portfolio.

MAIN FACTS:

-Financial details weren't disclosed.

-The deal is the first acquisition of a manufacturing site in the U.S. for Lanxess.

-Unitex, which achieved sales of about $30 million in 2010, will be integrated into the Lanxess business unit Functional Chemicals.

-The transaction will close with immediate effect and Lanxess will finance the acquisition from existing liquidity.