ERJ staff report (DS)
Leverkusen - Lanxess AG has successfully completed the acquisition of DSM Elastomers. The antitrust authorities have granted the approvals that are necessary for completion. The transaction took economic effect on Sunday 1 May, 2011.
Lanxess is paying EUR 310 million for the elastomer business of the Dutch company Royal DSM N.V. DSM Elastomers produces the synthetic rubber ethylene-propylene-diene monomer (EPDM) under the brand name Keltan. Lanxess is financing the acquisition with existing liquidity.
The company declined to make any further comment on the deal, until after employee meetings in Geleen and elsewhere which have been scheduled for next Monday, 9 May.
DSM Elastomers, based in Sittard-Geleen in the Netherlands, has roughly 420 employees worldwide. DSM Elastomers operates an EPDM facility with an annual capacity of 160,000 metric tons in Sittard-Geleen. An additional EPDM facility with a capacity of around 40,000 metric tons per year is located in Triunfo, Brazil. Lanxess plans to transfer the headquarters for the combined EPDM business from Marl (Germany) to Sittard-Geleen.
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Press release from Lanxess