ROCKWOOD
Remaining Sachtleben shares acquired from Kemira Oyj / Looking to divest German titanium dioxide producer
As part of a EUR 97.5m transaction, due to be wrapped up on 19 February 2013, Rockwood Holdings (Princeton, New Jersey / USA; www.rocksp.com) has acquired joint venture partner Kemira Oyj’s (Helsinki / Finland; www.kemira.com) 39% stake in titanium dioxide (TiO2) producer Sachtleben Chemie (Duisburg / Germany; www.sachtleben.de).
Now that the Duisburg-based business is fully in the hands of the US company, the latter plans to increase its efforts to find a suitable buyer for the non-core business. Rockwood CEO Seifi Ghasemi said, “Attaining 100% ownership of the joint venture provides us with the flexibility to achieve this goal in the time frame and manner most optimal for maximizing shareholder value.”
The joint venture partners had been looking for a suitable buyer for some time – see also Plasteurope.com of 13.06.2012. Following its acquisition of insolvent German TiO2 producer Crenox GmbH (Krefeld-Uerdingen; www.tio2-uerdingen.com), Sachtleben raised its overall output capacities to 340,000 t/y.
Now that the Duisburg-based business is fully in the hands of the US company, the latter plans to increase its efforts to find a suitable buyer for the non-core business. Rockwood CEO Seifi Ghasemi said, “Attaining 100% ownership of the joint venture provides us with the flexibility to achieve this goal in the time frame and manner most optimal for maximizing shareholder value.”
The joint venture partners had been looking for a suitable buyer for some time – see also Plasteurope.com of 13.06.2012. Following its acquisition of insolvent German TiO2 producer Crenox GmbH (Krefeld-Uerdingen; www.tio2-uerdingen.com), Sachtleben raised its overall output capacities to 340,000 t/y.
18.02.2013 Plasteurope.com [224599-0]
Published on 18.02.2013
German version of this article...