"The acquisition of Chemtura is another major step in our realignment process and a significant milestone in our course of growth. The ‘new' LANXESS is increasingly taking shape. The expansion of the additives business gives LANXESS an additional strong pillar. In its new set-up and with an even more balanced portfolio, the company will be much more stable and profitable. At the same time, Chemtura  considerably strengthens our presence in the North American growth region," said Matthias Zachert, Chairman of the Board of Management of LANXESS AG.

"We will now focus our energy on rapidly and smoothly integrating the new businesses and employees, as well as on optimally serving our new and existing customers."

Through the acquisition LANXESS increased its footprint in North America. In this region, the company is now represented at 24 production sites (previously 12) and employs approximately 2,800 staff (previously 1,500). The region's share in global sales increases from approximately 17 percent to approximately 21 percent. The expected annual synergy effects from the transaction amount to approximately EUR 100 million with realization targeted until 2020.

The acquisition of Chemtura is already expected to be accretive to LANXESS's earnings per share in the first full fiscal year after closing. LANXESS financed the acquisition through two corporate bonds and a hybrid bond as well as cash. The bonds were successfully placed at attractive terms already in 2016.

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