US speciality chemical company Hallstar has agreed to acquire Lanxess's esters manufacturing facility in Greensboro, North Carolina.
The acquisition will expand Hallstar’s manufacturing capacity and product portfolio, and will include the ester manufacturing plant, select product lines and site personnel.
Financial details of the acquisition, which is expected to close by the end of the year, were not disclosed.
“This strategic acquisition complements Hallstar’s position as a leader in the design, synthesis and manufacturing of specialty ester chemistry,” said chief executive John J. Paro.
“We’re glad to see increasing demand for our products but know that our continued success depends on customer’s supply security. The outstanding facility in Greensboro will be a welcome addition to Hallstar’s production capabilities,” he added.
Carmen B. Masciantonio, chief operating officer and president of Hallstar Industrial Solutions, added: “This manufacturing capacity expansion directly enables us to increase our polymeric plasticizer business in the US market.
"The site has significant assets that produce environmentally friendly phthalate-free plasticizers including benzoate and citrate esters under the Uniplex brand, as well as other specialty chemistries. The acquired products will further strengthen Hallstar’s global position and add to our portfolio of well-known brands – Plasthall, Paraplex, Dioplex, Staflex and TegMeR.”