PCTS's commercial products include biocides that prevent the deterioration and discoloring of the environmentally-friendly water-based paints caused by microorganisms.
Lanxess will integrate PCTS into its performance chemicals segment's material protection products (MPP) business unit that supplies biocides and offers stabilising agents for beverages and phenolic active ingredients for disinfection.
As part of the acquisition, the PCTS facility will become the new Asia-Pacific headquarters of MPP, while Lanxess will gain access to a complementary portfolio of biocides and will benefit from PCTS's product expertise and know-how in paints and coatings.
MPP also has production sites in Krefeld-Uerdingen and Dormagen, Germany; Pittsburgh, US; Jhagadia, India and Changzhou, China. LANXESS board of management member Rainier van Roessel said the transaction underlines the company as a key supplier of high-tech solutions for the megatrend urbanisation.
"It also strengthens our company's asset base in the booming Asian market," Roessel added. Financial details of the agreement have not been disclosed.
Image: Material Protection Products business unit global head Dr Torsten Derr signing deal with Nipsea Group corporate planning and development senior vice president Shae Toh Hock. Photo courtesy of Lanxess.