LANXESS completes acquisitions in India and China

German specialty chemicals group LANXESS has successfully completed the acquisition of the chemical businesses and production assets belonging to Indian company Gwalior Chemical Industries Ltd., as well as China’s Jiangsu Polyols Chemical Co. Both transactions have taken economic and legal effect on September 1, 2009. The company is paying €82.4 million (US$119 million) including debt for the assets of Gwalior, while the acquisition price for Jiangsu Polyols will remain undisclosed. (September 4, 2009)