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People & Business :: M&A

Wacker Sells Tire-Release-Agent Business to Rhein Chemie

6:31 AM MDT | July 8, 2011 | Natasha Alperowicz

Wacker says it has signed an agreement to sell its silicone-based tire-release-agent business to Rhein Chemie, the Lanxess subsidiary specializing in rubber additives. Financial details were not disclosed. Rhein Chemie, as part of the deal, acquires the rights to related product formulations, as well as existing segment-specific contracts and inventories. Wacker will continue to supply Rhein Chemie with silicone raw materials. In 2010 Wacker generated tire-release-agent sales in the "mid one-digit-million" euro range. The diestment streamlines Wacker's...

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