This deal marks LANXESS’s exit from its final polymer-related business.
LANXESS has signed an agreement to sell its Urethane Systems business to Japan’s UBE Corporation for €460 million.
“The sale of Urethane Systems marks another milestone in our fast transformation into a pure-play specialty chemicals company, as we are divesting the last remaining polymer business in our portfolio. We are convinced that the Urethanes business will have significantly enhanced opportunities for growth and development under the umbrella of UBE,” says Matthias Zachert, Chairman of the Board of Management of LANXESS AG.” At the same time, we are using the proceeds from the transaction to strengthen our balance sheet by further reducing our net debt.”
The Urethane Systems division includes five global manufacturing facilities and application laboratories located in the USA, Europe and China. UBE Corporation will take over all operations, including the employment of approximately 400 staff members. Over the past 12 months, the Urethane Systems business generated sales of approximately €250 million as of June 2024.