Rockwood acquire Kemira’s 39 pc interest in Sachtleben titanium dioxide JV

Rockwood to acquire Kemira’s 39 pc interest in Sachtleben titanium dioxide JV

4:50 AM, 15th February 2013
Rockwood to acquire Kemira’s 39 pc interest in Sachtleben titanium dioxide JV

 

PRINCETON, US: Rockwood Holdings Inc has entered into an agreement to purchase Kemira Oyj’s 39 per cent interest in Sachtleben, the titanium dioxide (TiO2) business joint venture of the parties, for €97.5 million. This transaction is expected to close by 19 February 2013.

“Given our prior statements that the titanium dioxide business is non-core, it is our key objective this year to explore and execute on the best strategic option for Rockwood. Attaining 100 per cent 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,” said Seifi Ghasemi, Chairman and CEO, Rockwood.

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