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Wacker Chemie divests of tyre-release-agent activities.

MANews-(C)2009-2011

German chemicals company Wacker Chemie (ETR:WCH) said in a statement it has divested of its silicone-based tyre-release-agent operations to Rhein Chemie Rheinau for an undisclosed amount.

Under the transaction, Rhein Chemie, part of chemicals company Lanxess (ETR:LXSG), will get the rights to related product formulations, plus some specific contracts and inventories.

The vendor booked sales in the tyre-release-agent field in the mid one-digit-million range in 2010. It will keep supplying Rhein Chemie with the necessary silicone raw materials.

Carlos Weise, head of the Wacker Silicones unit, said that the sale is part of the firm's strategy to streamline its portfolio.Country: Germany, Sector: ChemicalsTarget: Wacker Chemie's silicone-based tire-release-agent businessBuyer: Lanxess AG, Rhein Chemie Rheinau GmbHVendor: Wacker Chemie AGType: DivestmentStatus: Closed

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Publication:M & A Navigator
Date:Jul 11, 2011
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