Rockwood to Acquire Kemira's 39% interest in Sachtleben TiO2 JV
Rockwood Holdings, Inc. (NYSE: ROC) announced today that it has entered
into an agreement to purchase Kemira Oyj's 39% interest in Sachtleben,
the titanium dioxide (“TiO2”) business joint venture of the parties, for
EUR 97.5 million. This transaction is expected to close no later than
February 19, 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% 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 Chief Executive Officer.