Recently, LANXESS announced the sale of its organic leather chemicals business to Derui Leather Technology Co., Ltd., the world's leading leather chemicals supplier.
The agreement signed by the two parties on August 12 indicates that the purchase price includes a fixed amount of 80 million euros and a performance amount of up to 115 million euros. In addition, Deruipihua will bear business-related liabilities. The transaction is still subject to approval by the relevant authorities, and LANXESS expects the transaction to be completed in mid-2021.
Chang Mutian, Chairman of the Board of Management of the LANXESS Group, said: “We are convinced that handing over the business to Deruipi Chemicals will open up new growth and development prospects for this business.” The tannery uses organic leather chemistry in all stages of leather production. Product. LANXESS has leather chemical production bases in Leverkusen, Germany, Filago, Italy and Changzhou, China. In addition, LANXESS has established application laboratories and sales offices around the world. Deruipihua will take over all operations of the organic leather chemicals business line of LANXESS and approximately 460 employees. In 2019, LANXESS’ sales of this business amounted to hundreds of millions of euros.
This transaction marks that LANXESS will completely withdraw from the leather chemicals industry.
Deruipihua was established on January 1, 1996, headquartered in Germany, with 15 branches on three continents, and is one of the world's top professional leather chemical companies. There are production plants in Europe, America, India and Asia, and Qingdao is an important production base of Deruipihua in the Asia-Pacific region.
