LANXESS completes sale of its stake in chrome ore mine in South Africa

Cologne, October 08, 2021: Specialty chemicals company LANXESS completed the sale of its 74 percent stake in a chrome ore mine in Rustenburg, South Africa, on September 15. The new owner of the stake is Clover Alloys, a South African supplier of chrome fine ores. The parties have agreed to not disclose the purchase price. The remaining 26 percent shareholding in the mine will remain with DIRLEM, the minority shareholder representing the employees and some private investors.

Following the divestment of the chrome chemicals business at the beginning of 2020, it was strategically logical for LANXESS to also divest its stake in the chrome ore mine as its main source of raw materials.

LANXESS is a leading specialty chemicals company with sales of EUR 6.1 billion in 2020. The company currently has about 14,800 employees in 33 countries. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives, specialty chemicals and plastics. LANXESS is listed in the leading sustainability indices Dow Jones Sustainability Index (DJSI World and Europe) and FTSE4Good.

Corporate Comm India (CCI Newswire)