Consumables

Rockwood Enters Definitive Agreement to Sell Clay Based Additives Business

Monday 29. July 2013 - Rockwood Holdings, Inc. (NYSE: ROC) announced today it entered into a definitive agreement to sell its Clay Based Additives business to ALTANA Group, a German based global specialty chemical company for a purchase price of $635 million, subject to customary adjustments.

A segment of Rockwood’s Performance Additives business, Clay Based Additives had 2012 sales of $191.4 million. This transaction is expected to close during the fourth quarter 2013 following receipt of certain regulatory approvals.
“The sale of Clay Based Additives is another step forward in the implementation of our long term business strategy to maximize shareholder value,” said Seifi Ghasemi, Chairman and Chief Executive Officer. “I want to thank our Clay Based Additives management team and employees for their dedication and execution over the past few years during a challenging macro-environment. We wish them well as they work with ALTANA to develop and grow their business platform.”
Lazard acted as Rockwood’s financial advisor and Hughes Hubbard & Reed LLP and Willkie Farr & Gallagher LLP as legal advisors.
Clay Based Additives
The Clay Based Additives segment develops and manufactures a range of specialty rheology modifiers and additives. These products are used in a wide variety of applications to modify viscosity, thickness and flow characteristics, and keep solids in suspension. End products in which these additives are used include industrial and architectural coatings, oil and gas drilling fluids, consumer and household care products, and inks, paper and composites. It had net sales of $191.4 million, $202.3 million and $169.6 million for the years ended December 31, 2012, 2011 and 2010, respectively.