Leverkusen based LANXESS representatives and Asahi Kasei Fibers (AKF) Corporation, meeting in Basel, Switzerland, have signed the agreement on the sale of LANXESS's fibers business to the Japanese company.
A mutual memorandum of understanding had already been signed in November.
Closing of the transaction remains subject to the approval of the antitrust authorities, which the parties expect will be received in the first quarter of 2006.
Once approval has been granted, the legal and economic transfer of the Dorlastan business to the Japanese acquirer will take place.
LANXESS one is a global, overarching purchasing platform for all LANXESS customers that provides fast and reliable order processing.
Osaka based Asahi Kasei Fibers is the core operating company for all fibers and textiles operations of the Asahi Kasei Group. A wide and expanding range of innovative materials for apparel and industrial applications are produced with the know-how gained through eight decades of industry leadership.
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