Clover Alloys to acquire a 74% stake in Lanxess' chore ore mine.

Clover Alloys, a company operating chrome fines processing facilities, agreed to acquire a 74% stake in a chrome ore mine from Lanxess, a specialty chemicals company. Financial terms were not disclosed. “We have clearly focused our portfolio on specialty chemicals in recent years and are systematically continuing along this path. Following the sale of our chrome chemicals business, it is therefore strategically logical to also divest our stake in the chrome ore mine as a key source of raw materials for this business,” Rainier van Roessel, Lanxess Member of the Board.