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LANXESS Divests Perlon-Monofil Subsidiary to Serafin Group - Specialty chemicals company LANXESS AG has divested its wholly-owned subsidiary Perlon-Monofil to the Munich-based Serafin Group for an undisclosed amount. The transaction closes with immediate effect
LANXESS Divests Perlon-Monofil Subsidiary to Serafin Group

 

PRZOOM - /newswire/ - Cologne, Germany, 2014/03/19 - Specialty chemicals company LANXESS AG has divested its wholly-owned subsidiary Perlon-Monofil to the Munich-based Serafin Group for an undisclosed amount. The transaction closes with immediate effect. FRA: DE Frankfurt: LXS

   
 
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Perlon-Monofil GmbH is a global leader for polyamide (PA) and polyester (PET) monofilament products sold under the brand names Perlon, Atlas and Bayco. The products have good weather resistance, high mechanical strength and excellent elongation properties. They are used in a number of applications, above all in the paper manufacture, shipping and agriculture industries.

Perlon-Monofil has approximately 100 employees and operates a manufacturing plant and technical center in Dormagen, Germany. It achieved sales of about EUR 30 million in 2013.

LANXESS announced its intention to explore strategic options for non-core activities, including Perlon-Monofil, in September 2013. “We are delighted that Perlon-Monofil and its dedicated team have found a new home with the Serafin Group,” said LANXESS Board Member Werner Breuers. “Serafin already has a good standing within the monofilaments industry through its unit Nextrusion and will open up new prospects for the further development of Perlon-Monofil in the future.”

Nextrusion is based near Augsburg, Germany, and has with its brand Qualifil a leading position in PET monofilaments for paper machine clothing and other technical textiles. It has more than 200 employees and annual sales of EUR 40 million.

“The acquisition will strengthen the market position of Perlon-Monofil as well as of Nextrusion,” said Philipp Haindl, Managing Director of Serafin Group.

Serafin’s philosophy is based on values established during more than 150 years of entrepreneurial tradition by the shareholding family. Committed to this tradition, the aim is to invest in the continuous growth of the whole Group. Currently, the Group generates revenues of EUR 300 million with 1,400 employees in different business segments. The development of Serafin is supported by the advisory board consisting of Bernd Gottschalk, Clemens Haindl, Wolfgang Ley and Heinrich von Pierer.

LANXESS (lanxess.com) is a leading specialty chemicals company with sales of EUR 9.1 billion in 2012 and roughly 17,500 employees in 31 countries. The company is currently represented at 52 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals. LANXESS is a member of the leading sustainability indices Dow Jones Sustainability Index (DJSI) World and FTSE4Good as well as the Carbon Disclosure Leadership Index (CDLI).

 
 
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Agency / Source: LANXESS

 
 

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LANXESS Divests Perlon-Monofil Subsidiary to Serafin Group

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LANXESS | Serafin Group
Contact: Daniel Smith - LANXESS.com 
+49 221 8885 5179 daniela.eltrop[.]lanxess.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any LANXESS securities in any jurisdiction including any other companies listed or named in this release.

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