Headlines

LANXESS COMPLETES ACQUISITION OF MAJORITY SHARE IN PETROFLEX

May 12, 2008
/ Print / Reprints /
ShareMore
/ Text Size+

LANXESS AG has successfully completed the acquisition of an approximate 70% holding in Petroflex S.A., Latin America’s biggest rubber producer, for an estimated €200 million.  Petroflex S.A. will be included in LANXESS’s consolidated financial statements from the second quarter of 2008.

“Petroflex ideally complements our product portfolio and strengthens our position in one of the world’s most important growth markets,” said Axel C. Heitmann, chairman of the LANXESS Board of Management. “In this way, we are decisively reinforcing our position in Latin America, and we welcome our new employees with whom we want to continue growing.”

In 2007, Petroflex achieved sales equivalent to €535 million with 1,300 employees, and the group has three production sites in Brazil: Cabo (Federal State of Pernambuco), Duque de Caxias (Federal State of Rio de Janeiro), and Triunfo (Federal State of Rio Grande do Sul).

Did you enjoy this article? Click here to subscribe to Adhesives & Sealants Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

In-Depth Features

These articles detail advantages and innovations for multiple end uses.

Podcasts

ExxonMobil Tackifier Expansion

Dwight Tozer, vice president of ExxonMobil’s Adhesion Industry business, discusses the company’s latest tackifier expansion project with Editor-in-Chief Susan Sutton.

More Podcasts

THE MAGAZINE

Adhesives & Sealants Industry Magazine

ASI April 2014 cover

2014 April

Our April issue focuses on pressure-sensitive adhesives, including a preview of PSTC's 2014 Tape Summit, as well as converting/packaging and composites!

Table Of Contents Subscribe

THE ADHESIVES STORE

handbook-sealant-tech.gif
Handbook of Sealant Technology

The Handbook of Sealant Technology provides an in-depth examination of sealants, reviewing their historical developments and fundamentals, adhesion theories and properties, and today’s wide range of applications.

More Products

asi1211p_Cover-DE.gifASI's Buyers' Guide

Annual purchasing resource for equipment used in the manufacture/formulation of adhesives, sealants, pressure sensitives, tapes and labels and for application of finished adhesives. 

Clear Seas Research

With access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

STAY CONNECTED

facebook_40px twitter_40  youtube_40pxlinkedin_40