Intends to integrate business into its BYK Additives & Instruments division
German specialty chemicals group Altana has signed an agreement to acquire the global rheology business of Rockwood Holdings Inc for $635m. The unit, part of Rockwood’s Performance Additives segment, has 340 employees at four production sites in the US, the UK and Germany and generated sales of $191m in 2012. The transaction is expected to close in the fourth quarter of 2013, following approval by the relevant antitrust authorities and Altana says it intends to integrate the business into its BYK Additives & Instruments division.
“The acquisition of Rockwood’s rheology business is fully in line with our focus on true specialty chemicals and opens up new growth opportunities,” said Altana CEO Dr Matthias L Wolfgruber.
President of the BYK Additives & Instruments division, Dr Christoph Schlünken, added: “The acquisition is associated with an attractive growth potential. We will, for example, use the existing BYK structure to grow the acquired rheology business in Asia.”