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.
This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors, nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accepts any liability whatsoever arising directly or indirectly from the use of this document.