Tanneries use organic leather chemicals in all stages of leather production. LANXESS manufactures the products in Leverkusen (Germany), Filago (Italy), and Changzhou (China). This is complemented by application-oriented laboratories and sales offices around the world. TFL will take over all operations of the organic leather chemicals business line from LANXESS with a total of around 460 employees. In 2019, LANXESS generated sales in the lower three-digit million euro range with the business.
With the sale, LANXESS is withdrawing completely from leather chemicals. The specialty chemicals company had already divested its chrome chemicals business, as well as its stake in the South African chrome ore mine (transaction expected to be completed by the end of 2020). LANXESS has been reporting the Leather business unit as a discontinued operation since the end of last year.
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Lanxess AG published this content on 13 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 August 2020 05:07:12 UTC