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Home > News > Corporate News

LANXESS and Advent complete foundation of engineering materials JV

Source：Adsale Plastics Network Date ：2023-04-13 Editor ：JK
Copyright： 原创，请勿转载

LANXESS, a leading specialty chemicals company, and private equity investor Advent International have completed the formation of their engineering materials joint venture effective April 1, 2023. The new joint venture is the result of the combination of DSM’s Engineering Materials business and LANXESS’s former High Performance Materials business.


1.jpg

LANXESS and Advent International complete foundation of their engineering materials joint venture.

 

LANXESS holds about 40% of the joint venture, Advent about 60%. LANXESS also received a cash payment of around EUR 1.3 billion on March 31. LANXESS is using this mainly to reduce its debt and thus to strengthen its balance sheet. As financial support for the joint venture, LANXESS will be providing a loan of EUR 200 million.

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 HANGZHOU JUHESHUN NEW MATERIAL CO., LTD.      
 Rongsheng Petrochemical Co., Ltd.      
 Inner Mongolia Sunrise New Materials Co., Ltd      

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Source：Adsale Plastics Network Date ：2023-04-13 Editor ：JK
Copyright： 原创，请勿转载

LANXESS, a leading specialty chemicals company, and private equity investor Advent International have completed the formation of their engineering materials joint venture effective April 1, 2023. The new joint venture is the result of the combination of DSM’s Engineering Materials business and LANXESS’s former High Performance Materials business.


1.jpg

LANXESS and Advent International complete foundation of their engineering materials joint venture.

 

LANXESS holds about 40% of the joint venture, Advent about 60%. LANXESS also received a cash payment of around EUR 1.3 billion on March 31. LANXESS is using this mainly to reduce its debt and thus to strengthen its balance sheet. As financial support for the joint venture, LANXESS will be providing a loan of EUR 200 million.

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LANXESS and Advent complete foundation of engineering materials JV

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