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Lanxess to buy two pigments plants in China

Wed Jun 25, 2008 9:42pm EDT

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SHANGHAI, June 26 (Reuters) - German chemical maker Lanxess (LXSG.DE) said on Thursday it planned to acquire two inorganic pigments production facilities from a previous Chinese partner, marking its first acquisition in China.

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The sites, near Shanghai, have combined annual production capacity of 30,000 tonnes, the company said in a statement.

Lanxess gave no financial details of the purchase from Jinzhuo Chemicals Co.

The acquisition will enable Lanxess to expand its global inorganic pigment production capacity by 5 percent.

Lanxess had already been leasing one of the production facilities since last year, the statement said. (Reporting by Fang Yan; Writing by Edmund Klamann; Editing by Keiron Henderson)

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