November 16, 2017

1 Min Read
Solvay Sells US Phosphorous Derivatives Plant to Lanxess
The plant in Charlestown, SC. Image courtesy of Solvay

Belgian-owned chemical maker Solvay entered into an agreement with German specialty chemicals producer Lanxess to sell its plant in Charleston, SC and its business involving phosphorus derivatives-based products made at the site, a Solvay press release announced Wednesday.

“The divestment will strengthen Solvay’s focus and resources on our existing leadership positions in phosphine gas, phosphine derivatives, and phosphorus specialties,” said Michael Radossich, president of the Technology Solutions global business unit at Solvay, in a statement. “With Lanxess, our Charleston employees and our customers will have a buyer with a strategic, geographic, and technical fit to expand the business and its offerings.”

Products made at the plant are used as intermediates in plastic additives, flame retardants, and in agricultural applications.

Slated to close in the first half of 2018, the transaction is pending regulatory approvals and customary closing conditions. The financial terms of the sale were not disclosed in Solvay's release.

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