Wacker Chemie sells tire release agent business

Wacher Chemie AG, a German chemical company, has agreed to sell its tire release agent lubricants business to Rhein Chemie Rheinau GmbH for an undisclosed amount. Mannheim, Germany-based Rhein Chemie, a subsidiary of Lanxess AG, did not disclose the sale price. Under the terms of the sale agreement, Rhein Chemie will acquires rights to certain product formulations and inventories while Wacker will continue to supply the company with silicone raw materials and other products. Wacker’s sales of tire release agents were in the mid- one-digit million euro range last year. (July 8, 2011)