In an emailed press release, specialty chemical company Hallstar (Chicago, Illinois, USA) confirmed the acquisition of LANXESS’ ester manufacturing facility in Greensboro, North Carolina. This past July,Hallstar announced that it would acquire the facility, with the acquisition becoming final on October 1 after a brief, productive transition period.
The acquisition will expand Hallstar’s manufacturing capacity and product portfolio, and will include the ester manufacturing plant, select product lines, and site personnel.
“This strategic acquisition complements Hallstar’s position as a leader in the design, synthesis, and manufacturing of specialty ester chemistry,” Hallstar CEO John J. Paro noted back in July. “We’re glad to see increased demand for our products but know that our continued success depends on supply security for our customers. The outstanding facility in Greensboro will be a welcome addition to Hallstar’s production capabilities.”
In announcing the completion of the deal, Paro expressed gratitude for the hard work demonstrated by both sides.
“Our goal was to close this deal in the fourth quarter of the calendar year and, thanks to the outstanding efforts of Hallstar’s transition team and the cooperation of LANXESS’ local and global organization, we achieved that,” he says. “We are proud to welcome the Greensboro operation, including all of its knowledgeable employees, to the Hallstar team. The addition of another NA [North American] manufacturing plant gives our customers even more supply security and our company even greater potential for growth.”
Earlier in the year, Carmen B. Masciantonio, chief operating officer and president of Hallstar Industrial Solutions, pointed out the close relationship between the Greensboro operations and Hallstar’s strategy.
“This manufacturing capacity expansion directly enables us to increase our polymeric plasticizer business in the U.S. market,” he said. “The site has significant assets that produce environmentally friendly phthalate-free plasticizers including benzoate and citrate esters under the Uniplex brand, as well as other specialty chemistries. The acquired products will further strengthen Hallstar’s global position and add to our portfolio of well-known brands.”
Currently, Masciantonio reports that the site began shipping products on the first day of business under the Hallstar banner.
“We are already generating revenue,” he says. “However, utilization specifics of this new location will evolve as we become more familiar with its assets and how they can best support Hallstar customers. The Greensboro footprint is similar to that of our Bedford Park, Illinois, production facility, but with different capabilities and complementary assets.”