15 March 2012 08:56 [Source: ICIS news]
SINGAPORE (ICIS)--German specialty chemicals maker LANXESS said on Thursday its wholly owned subsidiary Rhein Chemie has acquired US-based Tire Curing Bladders (TCB) for an undisclosed fee.
The transaction will close with immediate effect, LANXESS said in a statement.
TCB, which primarily serves the North American market, operates a bladder production facility at Little Rock in Arkansas with an annual capacity in excess of 400,000 units, according to LANXESS.
“We are gaining capacities to serve our growing list of tire customers and we also gain access to bladders for tires of trucks, off-road and agricultural vehicles, as well as building machines,” LANXESS board member Rainier van Roessel said.
The demand for bladders is expected to rise in tandem with global tire production, which is expected to grow on average by around 5% per year in the next 10 years, the company said.
The size of the global bladder market is estimated at more than €300m ($390m), it added.
The acquisition of TCB is LANXESS’ third acquisition in the US within six months.
LANXESS acquired plasticizers firm Unitex in Greensboro in October last year and bought biocide material protection specialist Verichem a month later.“North America remains a very important market for specialty chemicals and technology-driven solutions developed by LANXESS,” van Roessel added.
Bladders are used in the manufacturing process of tires.
($1 = €0.77)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections