COLOGNE, France—Specialty chemicals company Lanxess has completed its $1.04 billion acquisition of Emerald Kalama Chemical, a Vancouver, Wash.-based manufacturer of specialty chemicals.
Lanxess signed the purchase agreement on Feb. 14, financing the purchase price from liquid funds. All required regulatory approvals have been received, the company said.
The acquisition—the second-biggest in Lanxess history—will help the company expand its range of specialty chemicals for industrial applications, especially for plastics, paints and coatings as well as adhesives industries.
Emerald Kalama Chemical generated global sales of around $425 million in 2020, with 75 percent of those sales attributable to business with specialty products for the consumer care market, especially products for flavors and fragrances, as well as preservatives for use in food, household products and cosmetics. One quarter of sales originated from business with specialty chemicals for industrial applications.
Lanxess will add 470 employees and three production sites in Kalama, Wash., Rotterdam, Netherlands and Widnes, England.