Kemira and Rockwood Holdings have agreed to form a joint venture that will be a leading producer of TiO2 (Titanium Dioxide) pigments.
Kemira’s TiO2 business - which produces speciality TiO2 grades for the cosmetics, pharmaceutical and food industries - will combine with Rockwood’s TiO2 pigments and functional additives business, Sachtleben Chemie.
The joint venture will be headquartered in Germany and be 61% owned by Rockwood and 39% owned by Kemira.
“The joint venture enables us to expand our speciality TiO2 product offering, increase our ability to meet customer needs and continue to grow our business at our targeted rates,” said Rockwood CEO Seifi Ghasemi.
All parties expect to close the joint venture in the third quarter.