Lanxess Scales Back On Assets

Lanxess has sold its 55% stake in a hydrazine hydrate plant in Weifang Industry Park, in Shandong province, China, to its partner, Weifang Yaxing Group. Terms of the deal have not been disclosed. Lanxess had physically relocated the 12,000-metric-ton-per-year plant from a site in Texas. The company will continue to make hydrazine hydrate at a plant in Leverkusen, Germany. Additionally, Lanxess has sold the infrastructure and supporting services at its Bushy Park, S.C., site to private equity firm Cooper River Partners for $10 million. Lanxess’ rubber chemicals unit has signed a long-term lease with Cooper River to operate at the site.