Lanxess confirms completion of chrome chemicals business sale
13/01/2020
All relevant antitrust authorities have given the necessary approvals for the transaction, which the companies announced in August 2019. Lanxess confirmed that Brother paid €80 million for this part of its business.
Brother Enterprises has now taken over the factory Lanxess ran in Newcastle, South Africa, with around 220 employees transferring to the new owner. The site produces sodium dichromate, some of which is processed into chromic acid.
Another factory in South Africa, in Merebank, will remain under Lanxess’s ownership. It will continue to manufacture chrome tanning salts from sodium dichromate there, exclusively for Brother Enterprises on a contract basis. It has said it expects this arrangement to remain in place until 2024.
In November, Lanxess announced that it had also found a buyer, Clover Alloys, for the 74% stake it owned in a chromium mine in South Africa.
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