Dow Chemical and Germany’s Lanxess will buy plants as Chemours restructures following its spin-off from DuPont
German synthetic rubber company Lanxess has agreed to buy the disinfectant and hygiene product ingredients business of US firm Chemours for $230 million (£157 million) in cash. The segment will be absorbed into Lanxess’ material protection products unit, which includes fungicides and insecticides for protective wood coatings.
The move is part of Chemours’ plan to cut down its product portfolio and become more profitable after spinning-off from US chemicals giant DuPont. At the same time, Lanxess is looking to diversify further into speciality chemicals to reduce its reliance on synthetic rubber products.
In March, Chemours completed the sale of its aniline facility in Beaumont, US, to Dow Chemical for $140 million. As part of the transaction, Chemours pledged to continue supplying Dow – by far its biggest aniline customer – with additional aniline from its Pascagoula, US, facility.