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LANXESS divests iSL-Chemie

Published on 2005-12-05. Author : SpecialChem

LEVERKUSEN -- Chemicals company LANXESS has sold iSL-Chemie GmbH & Co. KG, Kürten, Germany, to Berlac AG, Sissach, Switzerland. The purchase price for iSL-Chemie, a subsidiary of LANXESS business unit Rhein Chemie Rheinau GmbH, Mannheim, Germany, is approximately EUR 20 million. The transaction is effective immediately.

"iSL-Chemie is a well-positioned manufacturer of innovative products," said LANXESS Management Board Chairman Dr. Axel Heitmann. "We divested this company because it was not among Rhein Chemie's core activities. In the Swiss Berlac group we have found a purchaser who will support iSL-Chemie in growing its business."

iSL-Chemie, which produces color pastes and specialty coatings for plastics, was established more than 35 years ago. It employs about 130 people and is expected to have sales of some EUR 25 million in 2005.

The Berlac group is a global manufacturer of high-end special lacquers and effects for the design-oriented industry. Application areas for Berlac products include automotive and telecommunications, the ski and snowboard industries, and the watch-making and eyewear sectors. "Acquiring iSL-Chemie enables the Berlac group to reinforce its position as one of the leading producers of specialty coatings and color pastes for plastics substrates," said Berlac group President Daniel Kesselring. Berlac is represented in Germany by bomix Chemie GmbH, Telgte.

Coming after the announcement two weeks ago of the planned sale of the Dorlastan business to the Japanese company Asahi Kasei Fibers, the divestment of iSL-Chemie represents a further step to optimize the LANXESS Group's portfolio.

Forward-Looking Statements

This news release contains forward-looking statements based on current assumptions and forecasts made by LANXESS AG management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Source: LANXESS AG


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