German chemicals group Lanxess (LXSG.DE) signed a deal to purchase U.S. peer Chemours’ (CC.N) disinfectant and hygiene product ingredients business for about 210 million euros ($230 million).
The business will be folded into the German group’s Material Protection Products unit whose products include fungicides and insecticides for protective wood coatings, Lanxess said in a statement on Monday.
Chemours said it would hold on to its glycolic acid business.
The deal, which will be paid for from existing liquidity, is part of a push by Lanxess to expand into less cyclical markets with high margins, after it sold a 50 percent stake in its synthetic rubber business to Saudi Aramco for 1.2 billion euros.
(Reporting by Ludwig Burger; Editing by Christoph Steitz)
