ThermPhos divests French subsidiary to Lanxess
Lanxess has acquired the French subsidiary of financially troubled Netherlands-based company ThermPhos International, expanding Lanxess's portfolio of phosphorus-based chemicals.
The acquisition includes the production assets and customer list of the ThermPhos site in Epierre, south-eastern France, a phosphorus pentoxide and polyphosphoric acid manufacturer.
Complementary to the Germany-based specialty chemical company's existing phosphorus portfolio, both products can be used as chemical intermediates, including flame retardants and pharmaceuticals.
Lanxess will integrate the site into the production network of its business unit Functional Chemicals (FCC).
Employing about 480 people worldwide, FCC is part of the company's Performance Chemicals segment and produces phosphorus-based chemicals, specialty plasticisers and colourants.
Used to be a former affiliate of the German chemicals company Hoechst, Thermophos International was taken over in 2003 by a group of private investors, led by Italian-Israeli businessman Nahum Galmor.
Lanxess, with sales of €9.1bn in 2012, employees roughly 17,500 people in 31 countries and currently operates 52 manufacturing sites globally.