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Regions :: South America :: Brazil
Lanxess Acquires Stake in Brazilian Rubber Producer
2:59 PM MST | December 14, 2007 | Chemical Week Editorial Staff
Lanxess says it will buy out Braskem and Unipar’s combined 70% stake in synthetic rubber producer Petroflex (Rio de Janeiro) for €198 million ($289 million). The acquisition strengthens Lanxess’s position in Latin America, “one of the world’s most important growth markets,” says Axel C. Heitmann, Lanxess chairman. Petroflex has manufacturing sites at Cabo, Duque de Caxias, and Triunfo, with total synthetic rubber capacity of about 400,000 m.t./year. It has annual sales of about €500 million. The deal is subject to...
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