Chemicals provider Lanxess AG (ETR: LXS) will buy the Chemours Co.’s (NYSE: CC) clean and disinfectant business for $230 million in cash. The sale does not include Chemours’ glycolic acid division.
The assets being acquired make chemicals and other ingredients that are used in disinfectants. The target is known for its Oxone and Virkon S brands, which provide disinfectants against bacteria and viruses. On the consumer side, the products are used to disinfect pools, spas along with electronics. The combined business has about $110 million in revenue.