07.19.18
Specialty chemicals company LANXESS said it is strengthening its presence in the growth market of North America with a comprehensive investment program. The company plans to invest up to $580 million in its asset base there until 2022.
“North America and in particular the U.S. is a key growth market for LANXESS, where we have enlarged our footprint significantly with our recent acquisitions. Now we plan to upgrade our asset base there in order to leverage on its full potential,” said Matthias Zachert, chairman of the Board of Management of LANXESS.
More than $100 million of the total amount will be already spent in 2018, thereof some $50 million at the company’s largest U.S. site in El Dorado, mainly to upgrade the bromine brine exploration network, as well as the site infrastructure and pipelines.
LANXESS currently employs approximately 600 people at the site.
In 2017, the company’s total U.S. sales have increased by some 40 percent from $1.4 billion to 1.9 billion, the highest number in the company’s history. LANXESS also had a strong start into 2018: In the first quarter, U.S. sales increased by around 17 percent from $450 million to $525 million.
Also in 2017, LANXESS acquired chemicals group Chemtura in 2017.
In February 2018, LANXESS purchased the phosphorus chemicals business from Belgian chemicals group Solvay including its U.S. production site in Charleston, SC.
LANXESS now has 24 production sites and employs some 2,800 staff in North America – 19 of those production sites and 2,200 employees in the U.S.
“North America and in particular the U.S. is a key growth market for LANXESS, where we have enlarged our footprint significantly with our recent acquisitions. Now we plan to upgrade our asset base there in order to leverage on its full potential,” said Matthias Zachert, chairman of the Board of Management of LANXESS.
More than $100 million of the total amount will be already spent in 2018, thereof some $50 million at the company’s largest U.S. site in El Dorado, mainly to upgrade the bromine brine exploration network, as well as the site infrastructure and pipelines.
LANXESS currently employs approximately 600 people at the site.
In 2017, the company’s total U.S. sales have increased by some 40 percent from $1.4 billion to 1.9 billion, the highest number in the company’s history. LANXESS also had a strong start into 2018: In the first quarter, U.S. sales increased by around 17 percent from $450 million to $525 million.
Also in 2017, LANXESS acquired chemicals group Chemtura in 2017.
In February 2018, LANXESS purchased the phosphorus chemicals business from Belgian chemicals group Solvay including its U.S. production site in Charleston, SC.
LANXESS now has 24 production sites and employs some 2,800 staff in North America – 19 of those production sites and 2,200 employees in the U.S.
