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Cologne (dpa) - The specialty chemicals group Lanxess wants to strengthen its food and pet food business with the takeover of the US company Emerald Kalama Chemical.
As Lanxess announced on Sunday in Cologne, a contract to take over Emerald Kalama Chemical was signed.
The US company is one of the world's leading manufacturers of specialty chemicals, especially for the consumer sector.
Less liabilities would result in a purchase price of around 1.04 billion US dollars (867 million euros).
The transaction will be financed from existing cash and cash equivalents and is expected to be completed in the second half of 2021, Lanxess said.
Emerald Kalama Chemical employs around 500 people worldwide and operates three production sites.
The company reported sales of approximately $ 425 million in 2020 and earnings before interest, taxes, depreciation, and special items (EBITDA) of approximately $ 90 million.
Emerald Kalama Chemical generates around 45 percent of its sales in North America.
Around three quarters of sales came from specialties for the consumer sector - such as preservatives for food, household and cosmetics, aromas and fragrances and products for pet food.
The remaining quarter comes from the business with specialty chemicals for industrial applications.
The company is currently majority-owned by subsidiaries of the US investment company American Securities LLC.
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Lanxess, headquartered in Cologne, has around 14,400 employees in 33 countries.
With the production, development and sale of chemical intermediates, specialty chemicals as well as additives and plastics, a turnover of 6.8 billion euros was achieved in 2019.
© dpa-infocom, dpa: 210214-99-434179 / 2
Mandatory communication Lanxess
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