Rockwood Completes Sale of CeramTec

Rockwood Holdings, Inc. ROC announced today that it completed the sale of CeramTec, its advanced ceramics business to Cinven, a European private equity firm for purchase price of EUR 1.49 billion, subject to customary adjustments. Rockwood has received net cash proceeds of over USD 1.75 billion, net of all transaction adjustments, fees and taxes. “We are pleased with the expeditious timing and execution to close this transaction,” said Seifi Ghasemi, Chairman and Chief Executive Officer. “Consistent with our current focus to maintain a strong balance sheet, it would be our immediate plan to use a portion of the net proceeds to pay off our term debt,” added Mr. Ghasemi. CeramTec See full press release