TFL says it is aiming for the top
Leather chemicals group TFL has said it is delighted to have agreed a deal to acquire the organic leather chemicals business of Lanxess.
In a statement on August 13, TFL chief executive, Dr Peter Amann, said: “The combined business will offer an unparalleled range of high-performing, innovative and sustainable solutions to the leather industry.”
Dr Amann said that the “enhanced scale” TFL will have from acquiring all of Lanxess’s organic leather chemicals business, which operates with around 460 employees and has plants in Germany, Italy and China, will support TFL’s ambition to be the world’s top-performing leather chemicals company.
Specifically, he said the acquisition would significantly strengthen TFL’s finishing product portfolio and presence in the automotive industry.
The combined TFL and Lanxess leather businesses will employ around 1,200 people worldwide and have a turnover of approximately €450 million, TFL said. It will have production facilities in Germany, Italy, France, Brazil, India and China and a presence in more than 90 countries.
