LANXESS and Advent International complete foundation of industry leading Engineering Materials joint venture

Cologne

Specialty chemicals company LANXESS and private equity investor Advent International (“Advent”) have completed the formation of their engineering materials joint venture effective April 1, 2023. The new joint venture is the result of the combination of DSM’s Engineering Materials business and LANXESS’s former High Performance Materials business.

LANXESS holds about 40 percent of the joint venture, Advent about 60 percent. LANXESS also received a cash payment of around EUR 1.3 billion on March 31. LANXESS is using this mainly to reduce its debt and thus to strengthen its balance sheet.

As financial support for the joint venture, LANXESS will be providing a loan of EUR 200 million.

Information for editors:
All global LANXESS news releases and their accompanying photos can be found at http://press.lanxess.com.
Recent photos of the Board of Management and other LANXESS image material are available at http://photos.lanxess.com.

 

MORE ABOUT THIS TOPIC

PRESS RELEASE
Ion exchange resins of the Lewatit range for manufacturing of ultra pure water

LANXESS ion exchange resins applied in hydrogen production

April 15, 2024
PRESS RELEASE
LANXESS at InCosmetics 2023 in Barcelona

LANXESS presents extensive portfolio for the cosmetics industry

April 04, 2024
PRESS RELEASE
Adiprene Green

Sustainable, high performing systems and additives for the polyurethane industry

March 28, 2024
PRESS RELEASE
The new module of the LewaPlus design software from LANXESS enables the dimensioning of ion exchange systems for food applications.

LANXESS’ LewaPlus design software receives numerous new functions

March 27, 2024
PRESS RELEASE
Since August 1, 2013, specialty chemicals Group LANXESS is steering its global business from the LANXESS Tower in Cologne.

LANXESS expects earnings improvement for fiscal year 2024

March 14, 2024