LEVERKUSEN, Germany (Jan. 12, 2011)—Lanxess A.G.'s Rhein Chemie subsidiary has acquired Argentina-based Darmex S.A., a maker of release agents and curing bladders for the tire industry.
Lanxess said the deal makes Rhein Chemie one of the world's largest producers of release agents for rubber products. The deal, for an undisclosed sum, also gives Rhein Chemie Darmex's bladder technology in Latin America, which is a key production hub for leading tire manufacturers.
Darmex's production sites are located near to Brazil. Lanxess in recent years has been expanding significantly in the region.
In the coming years, Rhein Chemie plans to expand its bladder production. The release agents and bladders belonging to Darmex will be branded under Rhein Chemie product names.
The transaction didn't require prior approval by any authority, and Lanxess said it financed the purchase from existing liquidity.
Privately owned Darmex was founded in 1971. It is based in Buenos Aires, Argentina, employs about 200 worldwide and has plants in Burzaco and Merlo, Argentina, and Colonia, Uruguay.
Darmex had sales of about $30 million in 2010, with Brazil representing 40 percent of its ales, and 60 percent coming from North and South America.