Lanxess AG (Cologne, Germany; www.lanxess.com) has divested its wholly-owned subsidiary Perlon-Monofil to the Munich-based Serafin Group for an undisclosed amount. The transaction closes with immediate effect.
Perlon-Monofil GmbH is a global leader for polyamide (PA) and polyester (PET) monofilament products sold under the brand names Perlon, Atlas and Bayco. The products are designed for weather resistance, high mechanical strength and elongation properties. They are used in a number of applications, mainly in the paper manufacture, shipping and agriculture industries.
Perlon-Monofil has approximately 100 employees and operates a manufacturing plant and technical center in Dormagen, Germany. It achieved sales of about €30 million in 2013.
Lanxess announced its intention to explore strategic options for non-core activities, including Perlon-Monofil, in September 2013. “We are delighted that Perlon-Monofil and its dedicated team have found a new home with the Serafin Group,” said Lanxess board member Werner Breuers. “Serafin already has a good standing within the monofilaments industry through its unit Nextrusion and will open up new prospects for the further development of Perlon-Monofil in the future.”
Nextrusion is based near Augsburg, Germany, and has with its brand Qualifil a leading position in PET monofilaments for paper machine clothing and other technical textiles. It has more than 200 employees and annual sales of €40 million.