Chemicals company Lanxess AG has sold iSL-Chemie GmbH & Co. KG, Kürten, Germany, to Berlac AG, Sissach, Switzerland. The purchase price for iSL-Chemie, a subsidiary of Lanxess’ business unit Rhein Chemie Rheinau GmbH, Mannheim, Germany, is approximately €20 million. The transaction is effective immediately.

iSL-Chemie, which produces colour pastes and specialty coatings for plastics, was established more than 35 years ago. It employs about 130 people and is expected to have sales of some €25 million in 2005.

”iSL-Chemie is a well-positioned manufacturer of innovative products,” said Lanxess’ Management Board chairman Dr. Axel Heitmann. We divested this company because it was not among Rhein Chemie’s core activities. In the Swiss Berlac group we have found a purchaser who will support iSL-Chemie in growing its business.”

The Berlac group is a global manufacturer of high-end special lacquers and effects for the design-oriented industry. Application areas for Berlac products include the ski and snowboard industries, the watch-making and eyewear sectors and automotive and telecommunications.

Coming after the announcement two weeks ago of the planned sale of the Dorlastan business to the Japanese company Asahi Kasei Fibres, the divestment of iSL-Chemie represents a further step aimed at optimising Lanxess Group’s portfolio.