Hallstar Finalizes Purchase of Greensboro, NC, Polymer Additives Production Site
As of October 1, 2022, the former LANXESS facility, its personnel and several key product lines became part of The Hallstar Company
CHICAGO, October 3, 2022 (Newswire.com) - Chicago-headquartered specialty chemical company Hallstar announced this past July its intention to buy LANXESS' ester manufacturing facility in Greensboro, North Carolina. After a brief, productive transition period, the acquisition was completed this week, effectively expanding Hallstar's manufacturing capacity, product portfolio and employee roster.
"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," observed Hallstar chairman and CEO John J. Paro. "We are proud to welcome the Greensboro operation, including all of its knowledgeable employees, to the Hallstar team. The addition of another NA manufacturing plant gives our customers even more supply security and our company even greater potential for growth."
Carmen B. Masciantonio, chief operating officer and Hallstar Industrial Solutions president, noted that the site began shipping products on the first day of business under the Hallstar banner. "We are already generating revenue," he said. "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."
As part of the acquisition, Hallstar is gaining new product lines of brominated flame retardants and phthalate-free plasticizers including benzoate and citrate esters. These products will be added to Hallstar's portfolio of well-known brands for the Industrial market - Plasthall®, Paraplex®, Maglite®, Dioplex®, Staflex® and TegMeR®.
Source: The Hallstar Company