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Lanxess Acquires Gwailor Chemical Business
Posted: June 18, 2009
Lanxess (Leverkusen, Germany) has strengthened its presence in the BRIC region by acquiring the chemical business of Gwailor Chemical Industries Ltd. (Mumbai) for 82.4 million euros. The deal is expected to close by the third quarter of 2009. Gwailor is one of the largest Indian producers of benzyl products and a leading global producer of sulfur chlorides for the flavor and fragrance industry.
Of the deal, Axel Heitmann, chairman of Lanxess' board, said, “Gwalior’s business complements the portfolio of our basic chemicals business unit and our first acquisition in India will strengthen our production base in this exciting market.