(Lanxess) -- Lanxess is strengthening its portfolio of biocides with the acquisition of Verichem Inc. based in Pittsburgh, Pennsylvania. As a result, the German specialty chemicals company will significantly bolster its position in the U.S. material protection market and broaden its global biocide manufacturing network. Both parties have agreed not to disclose financial details.
Lanxess will gain access to a complementary portfolio of biocides, as well as active ingredients registered with the U.S. Environmental Protection Agency (EPA). They are used to protect coatings, adhesives, construction materials, as well as pulp and paper. The biocides prevent the deterioration and discoloring of materials caused by microorganisms.
Verichem is a privately owned company currently employing around 20 people. It recorded sales of roughly USD 10 million in 2010. Verichem's production site is located close to Lanxess' U.S. headquarters in Pittsburgh. The transaction will close with immediate effect. Verichem will be integrated into the Lanxess business unit Material Protection Products (MPP).
Perspectives of development of polymer markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit will be organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers" presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.