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Lanxess to buy two pigments plants in China

(Agencies)
Updated: 2008-06-26 13:58

German chemical maker Lanxess said on June 26 it planned to acquire two inorganic pigments production facilities from a previous Chinese partner, marking its first acquisition in China.

The sites, near Shanghai, have combined annual production capacity of 30,000 tons, the company said in a statement.

Lanxess gave no financial details of the purchase from Jinzhuo Chemicals Co.

The acquisition will enable Lanxess to expand its global inorganic pigment production capacity by 5 percent.

Lanxess had already been leasing one of the production facilities since last year, the statement said.