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Mergers & Acquisitions
Lanxess to exit leather chemicals
by Alex Scott
August 21, 2020
| A version of this story appeared in
Volume 98, Issue 32
Lanxess will exit the organic leather chemicals business with the sale of its subsidiary TFL Ledertechnik to Black Diamond Capital Management for $93 million and an additional $135 million subject to the business hitting performance targets. TFL has about 460 employees and plants in Germany, Italy, and China; it generated sales of over $100 million in 2019. Lanxess announced a deal last November to sell its business in chrome chemicals for leather tanning.
Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society
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