Lanxess Sells North American TPC Business To StarChem
The sale of the North American operations follows Lanxess’s divestment of all TPC operations outside of North America in November 2006. Prior to finding a buyer, Lanxess had planned to close the Wellford facility. “I am delighted that we can now offer employees new prospects,” said Axel C. Heitmann, Management Board chairman, Lanxess.
The companies expect to complete the transaction by the end of 2006.
December 19, 2006