Hallstar finalizes acquisition of Lanxess ester site

CHICAGO—Hallstar has finalized its acquisition of Lanxess' ester manufacturing facility in Greensboro, N.C.

Hallstar said in an Oct. 3 news release, that the finalized acquisition, first announced in July, expands the Chicago-based specialty chemicals company's manufacturing capabilities, product portfolio and employee roster.

Terms of the transaction were not disclosed.

"Our goal was to close this deal in the fourth quarter of the calendar year, and—thanks to the outstanding efforts of Hallstar's transition team and the cooperation of Lanxess' local and global organization—we achieved that," Hallstar Chairman and CEO John J. Paro said in a statement.

"We are proud to welcome the Greensboro operation, including all of its knowledgeable employees, to the Hallstar team. "The addition of another N.A. manufacturing plant gives our customers even more supply security and our company even greater potential for growth."

The site began shipping products on the first day of business under Hallstar, according to Carmen B. Masciantonio, chief operating officer at Hallstar, who noted the company already is generating revenue.

"However, utilization specifics of this new location will evolve as we become more familiar with its assets and how they can best support Hallstar customers," he added. "The Greensboro footprint is similar to that of our Bedford Park, Illinois, production facility, but with different capabilities and complementary assets."

As part of the acquisition, Hallstar is gaining new product lines of brominated flame retardants and phthalate-free plasticizers, including benzoate and citrate esters, according to the news release.

These products will be added to Hallstar's portfolio of brands for the industrial market, which includes Plasthall, Paraplex, Maglite, Dioplex, Staflex and TegMeR.