Leverkusen, Germany, December 15, 2006--Lanxess said it has sold its Textile Processing Chemicals business unit in North America to Star Chem, a specialist in textile and speciality chemicals. Star Chem has acquired the operations based in the United States and Canada and will employ major parts of the workforces.
StarChem is a subsidiary of Star Holdings, Inc., Dalton, Georgia, and will be headquartered in Wellford, South Carolina, USA.
Terms of the transaction were not disclosed.
The TPC business unit employs about 380 people worldwide and has sales of EUR 150 million. In early November Lanxess already announced the sale of all its TPC activities outside of North America.
Lanxess had originally planned to close the Wellford site.
