12 September 2012 12:58 [Source: ICIS news]
LONDON (ICIS)--LANXESS has acquired materials firm Bond-Laminates to strengthen its position for lightweight materials in the automotive industry, the Germany-based chemicals firm said on Wednesday.
Bond-Laminates is based in Brilon in ?xml:namespace>
The company employs about 80 people and had sales of €16m ($12.5m) last year.
Financial terms were not disclosed. The deal closed with immediate effect.
LANXESS has been working with Bond-Laminates since 2006 on several projects in the automotive industry.
“LANXESS is reinforcing its credentials as a premium supplier of innovative products that serve the growing trend of ‘Green Mobility’,” CEO Axel Heitmann said.
“We see tremendous potential for this composite technology as it spreads from the premium automotive segment to the wider market,” Heitmann added.
LANXESS will integrate Bond-Laminates into its high performance materials business unit.
LANXESS added that it earmarked investments of €125m to expand its global production network for high-tech plastics from 2012-2014.
The company's high-tech plastics business is based in
The polyamide is then sent to LANXESS’ global network of compounding facilities, where it is mixed and refined with additives and glass fibres, to produce the brand Durethan-brand plastics compounds.
($1 = €0.78)
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