ERJ staff report (LMH)
Leverkusen, Germany - Lanxess' wholly-owned subsidiary Rhein Chemie has acquired US-based Tire Curing Bladders LLC (TCB) - a leading manufacturer of bladders for the tyre industry. Financial details were not disclosed. The transaction will close with immediate effect.
Privately-owned TCB is based in Little Rock, Arkansas, and operates a bladder production facility with an annual capacity in excess of 400 000 units, Lanxess said in a 14 March news release. The company achieved sales of $21 million in 2011 and employs about 100 people. TCB serves primarily the North American market.
â€œThe acquisition of TCB is a further cornerstone in our strategy to position Rhein Chemie as a global producer of high-quality bladders,â€ said Rainier van Roessel, Board Member of Lanxess. â€œWe are gaining capacities to serve our growing list of tyre customers and we also gain access to bladders for tyres of trucks, off-road and agricultural vehicles, as well as building machines.â€
â€œWe are delighted that Rhein Chemie will give our committed workforce the platform to achieve even more success through its global reach and well-known brands,â€ said TCB's former joint owners Vernon Almon and Mark Nutt.
Rhein Chemie gained access to bladder production last year through the acquisition of Argentina's Darmex. Rhein Chemie bladders are marketed under the Rhenoshape brand.
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Press release from Lanxess