Huntsmann Completes Acquisition of Rockwood Businesses
Huntsman Corporation has completed the acquisition of the Performance Additives and Titanium Dioxide (TiO2 ) businesses of Rockwood Holdings, Inc.
The following businesses were acquired from Rockwood:
- Functional additives made from barium and zinc based inorganics used to make colors more brilliant primarily in plastics, coatings, films, food, cosmetics, pharmaceuticals and paper.
- Color pigments made from synthetic iron-oxide and other non-TiO2 inorganic pigments used by manufacturers of coatings and colorants.
- Timber treatment wood protection chemicals used primarily in residential and commercial applications.•Water treatment products used to improve water.
- Titanium dioxide, a white pigment derived from titanium bearing ores with strong specialty business in fibers, inks, pharmaceuticals, food and cosmetics.
Huntsman paid approximately USD 1 billion in cash and assumed certain unfunded European pension liabilities.
Peter R. Huntsman, President and CEO of Huntsman Corporation, commented: “The successful completion of this acquisition better positions our company. It will be immediately accretive to our earnings before synergies of USD 130 million and provides further optionality for our pigments business. The addition of specialty titanium dioxide and performance additives will broaden our product offering and further enable our ability to build the most competitive and successful pigments and additives business in the world. The majority of earnings over the past 12 months have come from their specialty and niche TiO2 businesses, demonstrating the diversity and breadth of the business we are acquiring. With the addition of the Rockwood businesses, we are well on our way to achieving our EBITDA goal of USD 2 billion within the next couple of years.”
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