LEVERKUSEN, GERMANY (Sept. 12, 11:45 a.m. ET) — Materials supplier Lanxess AG has purchased Bond-Laminates GmbH, a German company that supplies custom plastic composite sheets, including glass-fiber-reinforced sheet.
Leverkusen-based Lanxess said the deal strengthens its portfolio of lightweight materials for the automotive industry.
Terms were not disclosed.
Bond-Laminates is a 15-year-old company based in Brilon, Germany. The company employs about 80 and posted 2011 sales of 16 million euros ($20 million). The firm has worked with Lanxess since 2006 on automotive industry projects.
“We see tremendous potential for this composite technology as it spreads from the premium automotive segment to the wider market,” Lanxess Chairman Axel Heitmann said in a news release.
Bond-Laminates will be part of the Lanxess’ High Performance Materials business unit, headed by Michael Zobel.
High Performance Materials is part of the Performance Polymers segment, which generated 5.1 billion euros ($6.6 billion) in total sales in fiscal year 2011.