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Monday, 14 October 2019
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Markets & companies, Raw materials market

Rockwood sells performance additives and titanium dioxide businesses

Wednesday, 18 September 2013

Huntsman is buying Rockwood's pigments unit for USD 1.1 billion.

The buyout, which is expected to close by June of next year, will make Huntsman second only to DuPont atop the market for titanium dioxide. Source: Huntsman
The buyout, which is expected to close by June of next year, will make Huntsman second only to DuPont atop the market for titanium dioxide. Source:...

Huntsman Corporation and Rockwood Holdings, Inc. announced that they have entered into a definitive agreement whereby Huntsman will acquire Rockwood’s Performance Additives and Titanium Dioxide businesses. Under the terms of the agreement Huntsman will pay approximately USD 1.1 billion in cash and assume unfunded pension liabilities estimated at USD 225 million as of June 30, 2013.

Rockwood’s Performance Additives and TiO2business includes the manufacture and supply of sulphate process TiO2, synthetic iron-oxide and other organic pigments, timber treatment products and specialty automotive materials. Applications for these products are used in coatings, construction, concrete, plastics, papers, inks, food, cosmetics, pharmaceuticals, fibers and films.

The buyout, which is expected to close by June of next year, will make Huntsman second only to DuPont atop the market for titanium dioxide. Huntsman plans to spin off roughly 20 % of the combined pigments business in an initial public offering within two years of closing the deal. Huntsman would retain a majority stake in the new pigments business, Chief Executive Peter Huntsman said. The company expects demand for titanium dioxide to continue to recover in coming quarters.

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