LEVERKUSEN, Germany (March 1) — Lanxess A.G. has concluded the sale of its unprofitable Dorlastan polyurethanes fibers business to Japan´s Asahi Kasei Fibers Corp., following approval of the deal by the appropriate authorities.
The parties did not disclose financial details of the deal, initially disclosed last November.
The Dorlastan business operates plants in Dormagen, Germany, and Bushy Park, S.C., with combined annual capacity of 17,000 metric tons.
Osaka-based Asahi Kasei Fibers makes and sells its own stretchable fiber under the Roica brand, and said last fall the acquisition would "effect a complete globalization" of its Roica operations. It said it expects the combined businesses to generate about $365 million in annual sales.
Asahai Kasei Fibers said it anticipates making "strategic" capital investments in the Dormagen and Bushy Park plants as its integrates its own technology with that of the Dorlastan business.