LANXESS to sell its South African chrome chemicals business to Brother Enterprises for $93m.

Specialty chemicals company LANXESS agreed to sell its South African chrome chemicals business to Brother Enterprises, a Chinese leather chemicals producer, for $93m. “We have successfully reorganized our chrome chemicals business in recent years. However, it no longer fits in with our strategic focus on specialty chemicals. We are therefore convinced that future growth and the further development of the business can be better implemented under the leadership of Brother Enterprises,” said Matthias Zachert, Chairman of the Board of Management of LANXESS.