LANXESS : completes sale of its stake in chrome ore mine in South Africa
September 17, 2021 at 10:12 am EDT
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LANXESS completes sale of its stake in chrome ore mine in South Africa
CologneSeptember 17, 2021
Specialty chemicals company LANXESS completed the sale of its 74 percent stake in a chrome ore mine in Rustenburg, South Africa, on September 15. The new owner of the stake is Clover Alloys, a South African supplier of chrome fine ores. The parties have agreed to not disclose the purchase price. The remaining 26 percent shareholding in the mine will remain with DIRLEM, the minority shareholder representing the employees and some private investors.
Following the divestment of the chrome chemicals business at the beginning of 2020, it was strategically logical for LANXESS to also divest its stake in the chrome ore mine as its main source of raw materials.
About LANXESS
LANXESS is a leading specialty chemicals company with sales of EUR 6.1 billion in 2020. The company currently has about 14,800 employees in 33 countries. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives, specialty chemicals and plastics. LANXESS is listed in the leading sustainability indices Dow Jones Sustainability Index (DJSI World and Europe) and FTSE4Good.
Forward-Looking Statements
This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors, nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accepts any liability whatsoever arising directly or indirectly from the use of this document.
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Information for editors:
All LANXESS news releases and their accompanying photos can be found at http://press.lanxess.com.
Recent photos of the Board of Management and other LANXESS image material are available at http://photos.lanxess.com.
You can find further information concerning LANXESS chemistry in our digital magazine 'Inside LANXESS' at http://inside.lanxess.com.
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Lanxess AG published this content on 17 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 September 2021 14:11:08 UTC.
LANXESS AG is a Germany-based company engaged in the chemicals sector. It specializes in the development, manufacturing and marketing of chemical intermediates, additives, specialty chemicals and plastics. Its business activities are divided into four segments: Specialty Additives, responsible for manufacture of additives for the rubber and paint industries, among others; Advanced Intermediates, focused on the development of intermediates for the agricultural, plastics, chemicals, consumer goods, construction, tire and automotive industries, among others; Performance Chemicals, which offers material protection products, inorganic pigments, finishing agents for the leather industry and resins for water treatment, among others, and Engineering Materials, which produces technical plastics, glass fibers, fiber composites and elastomers on a urethane basis for application in the automotive, electronics and electrical engineering industries. It operates around 60 production sites worldwide.
LANXESS AG 
