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German chemical giant LANXESS acquires U.S. Emerald Kalama Chemical

 Last Update: 2022-08-27
 Source: Internet
 Author: User

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On February 14, German specialty chemicals manufacturer Lanxess announced that it had signed an agreement to acquire Emerald Kalama Chemical, a U.
S.
peer, with an enterprise value of $1.
08 billion

In fact, back in November 2020, Lanxess CEO Matthias Zachert said on an earnings call in November that the company had as much as 2 billion euros ($2.
4 billion) in funding to pursue deals, and Emerald Kalama would In line with its interest in higher-margin specialty chemical assets

The goal is to increase sales to the consumer market, Zachert told stock analysts on a conference call this time around

On the conference call, Zachert acknowledged that benzoic acid is a commodity that Chinese companies are increasingly producing

Matthias Zachert also said: "Emerald Kalama Chemical's business is a perfect fit for us

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