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

Zoom  Zoom Issue Date:2011-10-18   Source: PUWORLD   Browse:704

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.




-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.

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