Chemicals group Lanxess' Dorlastan fibres business is soon likely to be sold to the Asahi Kasei Fibers Corporation of Osaka, Japan for an undisclosed fee.
Chemicals group Lanxess' Dorlastan fibres business is soon likely to be sold to the Asahi Kasei Fibers Corporation (AKF) of Osaka, Japan for an undisclosed fee.
The Dorlastan Fibres-business includes production facilities at Dormagen, Germany, and Bushy Park, South Carolina, in the United States.
To make the site at Dormagen competitive, AKF will slash the 280 employee head count down to about 170. Limited restructuring is also planned to take place at the US site in BushyPark. AKF plans to retain 160 of the approximately 190 people currently employed there.
“The Dorlastan fibres business has suffered for many years from the migration of textile markets to Asia,” said Lanxess Management Board Chairman, Dr. Axel C. Heitmann. “Selling the business to AKF enables us to avoid closing the Dormagen site, which has been unprofitable for years.”
The transaction will be subject to the approval of the relevant antitrust authorities.
