Lanxess Corp., a specialty chemical company based in Findlay Township, said today it acquired manufacturer Verichem Inc. of Neville Township for an undisclosed price.
Adding Verichem`s 20 employees, Lanxess will employ more than 300 people in the Pittsburgh region, including those at its headquarters and a manufacturing plant in Burgettstown.
The purchase expands Lanxess' worldwide biocide manufacturing network. Verichem had sales of about $10 million in 2010.
Biocides are used to protect coatings, adhesives, construction materials, as well as pulp and paper, preventing deterioration and discoloring of materials caused by microorganisms.
"We are extremely excited to announce our growth in the region," said Lanxess CEO Randy Dearth.
Lanxess' German parent, Lanxess AG, today reported record third-quarter results, which it attributed to strong demand for its synthetic rubbers and high-tech plastics.
Net profit rose 31 percent to $210 million on sales of $3.14 billion, up 26 percent from a year ago.
Sales in North America grew by 23 percent from a year ago to $547 million.
