Lanxess sells polyurethanes business to UBE Corporation and exits polymers industry

Specialty chemicals company Lanxess signed a contract to sell its Urethane Systems business to Japanese UBE Corporation. The enterprise value amounts to 460 million euros with expected proceeds of around 500 million euros. With this transaction Lanxess exits the last remaining polymer business.

The Urethane Systems business comprises 5 manufacturing sites globally as well as application laboratories in the USA, Europe and China. UBE Corporation will take over all operations from Lanxess with a total of around 400 employees. The Urethane Systems business generated sales of around 250 million euros last twelve months June 2024. The transaction remains subject to the approval of the relevant authorities, and Lanxess expects it to close in the first half of 2025.