LANXESS completes sale of its Currenta stake to Macquarie Infrastructure and Real Assets

02 Jun 2020

Cologne – Specialty chemicals company LANXESS today, April 30, 2020, completed the sale of its 40 percent stake in chemical park operator Currenta to Macquarie Infrastructure and Real Assets (MIRA). Both companies had reached an agreement to this effect in August 2019. LANXESS realized an equity value of EUR 780 million (after deduction of net debt and pensions) for the sale of its stake and received a profit participation of EUR 150 million pre tax.

“The sale of Currenta provides us with substantial extraordinary proceeds in the second quarter. We are also strengthening our already good financial base. We are thus well prepared to meet the current challenges posed by the corona pandemic,” said Michael Pontzen, Chief Financial Officer of LANXESS.

Moreover, LANXESS has reached an agreement with Currenta on service and supply contracts for the three sites in Leverkusen, Dormagen and Krefeld, all Germany, which will initially run for10 years. LANXESS operates a significant portion of its global production facilities there.

Currenta manages and operates infrastructure, energy supply and other essential services in the chemical parks in the Lower Rhine region and was previously a joint venture between Bayer (60 percent) and LANXESS (40 percent). Bayer had already completed the sale of its Currenta stake to MIRA at the end of November 2019. LANXESS, one of Currenta's main customers, provided operational support to the new owner during the transition phase.

MIRA has been active in Germany for 30 years, and has extensive experience in Currenta’s core business areas including utilities, transport, logistics, storage, waste management and treatment services.

news More

From Waste to Resource The Evolution of Recycling Techniques in a Circular Economy

20 Nov 2024

Plastic waste management remains a great concern across the globe, there are millions of tons of waste accumulated annually and the conventional recycling methods don’t suffice. There are plenty of challenges in the segment such as mixed plastic streams, contamination, and limited recyclability of certain materials. Therefore, the demand for innovative techniques has emerged to overcome these barriers. Some cutting-edge solutions such as molecular recycling, enzymatic processes, and advanced sor Read More

Green hydrogen revolution and innovative pathways Exploring India s INR 200 crore green hydrogen initiative

15 Nov 2024

India has taken a bold step forward with the ambitious National Green Hydrogen Mission and this transformative initiative launched by the Ministry of New and Renewable Energy(MNRE). The announcements about the pilot projects sound very ambitious and enriching, and they are expected to redefine the way energy is produced, consumed and emphasize local resource utilization and reduce infrastructure dependency. These initiatives are considered and seen as a cornerstone of the country’s clean energy Read More

From Low-Margin to High-Value Transforming India s Chemical Industry through lessons from China s global leadership in chemicals

14 Nov 2024

Indian chemical sector stands at a crossroads. The rapidly expanding economy and global demand for specialized, high-valued chemicals are creating a unique opportunity to reshape the sector for the future. India should move beyond traditional, low-margin chemical production to become a global leader in innovation and sustainability. However, the country can take valuable lessons from China’s recent transformation, showcasing the impact of strategic investments in high-tech manufacturing, digital Read More

Exciting news in Green chemistry Mitsubishi chemical s BENEBiOL now stronger and greener with new biobased grades

11 Nov 2024

Companies are paving the way for sustainable innovation in the manufacturing of polyurethane resins. In that context, Mitsubishi has pioneered creating sustainable materials for polyurethane resins. While the previous grades were already catering the applications in the industries that required enhanced durability such as wind energy, that employed coatings to protect wind turbine blades, the new HSS and NLDS grades with over 80% biobased content with excellent properties have created a boom in Read More

International Conference and Exhibition - Exploring India s Dollar 15 Billion Investment Surge in Syngas and Nitrogen Projects

08 Nov 2024

The Nitrogen and Syngas industries are witnessing substantial change and innovation. The industry is driven by evolving energy standards, the push for sustainability and impressive advancements in technologies. Considering the significance of the context, the international nitrogen + syngas conference has become an essential meeting, as it fulfils the satiety of industry professionals craving insights about the industry and offers them a unique platform for knowledge exchange, networking and exp Read More

New Era in Electronics Tosoh s GaN Sputtering Target Could Fuel India s 5G and Data Center Expansion

07 Nov 2024

Think of data centres, electric vehicles, and consumer electronics. What do they hold in common? They are all dependent on GaN. Industries are striving to reduce energy consumption and becoming more critical towards efficient power conversion and loss. What can be done better here? This has been a point of debate ever since the industries are witnessing growth in diversified applications and demand for more efficient and smaller electronic devices. In this article, we have proudly shared and exp Read More