In a move aimed at strengthening its automotive sales, German specialty chemicals producer Lanxess (Leverkusen; www.lanxess.com) in September acquired Bond-Laminates (Brilon / Germany; www.bond-laminates.de), a manufacturer of custom-made reinforced plastic composite sheets sold under the “Tepex” brand name. Financial details of the acquisition, which takes effect immediately, were not disclosed. The two companies have been cooperating in the automotive field since 2006.

Commenting on the deal, Lanxess board chairman Axel Heitmann said, “We see tremendous potential for this composite technology as it spreads from the premium automotive segment to the wider market.”

Located in Brilon, the 80 workers employed at Bond-Laminates’ production plant generated sales of EUR 16m in 2011. Following the sale, the company and its management team will become part of Lanxess’ High Performance Materials unit.