COLOGNE, Germany/ SÃO PAULO – Specialty chemicals company LANXESS is strengthening its position as a leading manufacturer of active biocidal ingredients and formulations with the acquisition of Itibanyl Produtos Especiais Ltda. (IPEL). The family-run company with headquarters in Jarinu, São Paulo, is one of Brazil’s leading biocide manufacturers. Both companies signed an agreement to this effect on Nov. 28, 2019. The parties have agreed not to disclose the purchase price. The transaction is still subject to the approval of the responsible antitrust authorities; completion is expected in the first quarter of 2020.
“The acquisition fits perfectly with our strategic focus on profitable specialty chemicals,” said Rainier van Roessel, member of the LANXESS Board of Management.