Rockwood to Sell Titanium Dioxide Pigments, Other Non-Strategic Businesses to Huntsman for $1.325B

Rockwood Holdings, Inc.

announced today that it entered into a definitive agreement to sell its Titanium Dioxide Pigments and four other non-strategic businesses to Huntsman Corporation

, a global specialty chemical company, for an enterprise value of $1.325 billion, including the assumption of $225 million in pension obligations, and subject to other customary adjustments. This transaction is expected to close during the first half of 2014, following receipt of regulatory approvals. The businesses being sold include Titanium Dioxide Pigments, Color Pigments & Services, Timber Treatment Chemicals, Rubber/Thermoplastics Compounding, and Water Chemistry. These businesses had combined net sales of $1,450.8 million and $1,539.0 million for twelve months ended