Written on 07.10.2014 - Industry
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Huntsman completes acquisition of Rockwood's Performance Additives and Titanium Dioxide businesses

On 30 September 2014, Huntsman Corporation announced that it has received final clearance and approval from the European Commission to acquire the Performance Additives and Titanium Dioxide businesses of Rockwood Holdings, Inc. Following the approval, the acquisition was completed on 1 October 2014.

Huntsman paid approximately USD 1 billion in cash and assumed certain unfunded European pension liabilities.

Peter R. Huntsman, President and CEO of Huntsman Corporation, commented: “The successful completion of this acquisition better positions our company. It will be immediately accretive to our earnings before synergies of USD 130 million and provides further optionality for our pigments business.”

“The addition of speciality titanium dioxide and performance additives will broaden our product offering and further enable our ability to build the most competitive and successful pigments and additives business in the world. The majority of earnings over the past twelve months have come from their speciality and niche TiO₂ businesses, demonstrating the diversity and breadth of the business we are acquiring”, he said.

“Our existing business continues to perform very well. We see excellent growth for products such as our MDI polyurethanes, amines and aerospace composites and we have a number of projects underway that will fuel this growth. With the addition of the Rockwood businesses, we are well on our way to achieving our EBITDA goal of USD 2 billion within the next couple of years”, Peter R. Huntsman said.

The following businesses were acquired from Rockwood:

Performance Additives

Functional additives made from barium and zinc-based inorganics used to make colours more brilliant primarily in plastics, coatings, films, food, cosmetics, pharmaceuticals, and paper.
Colour pigments made from synthetic iron-oxide and other non-TiO₂ inorganic pigments used by manufacturers of coatings and colourants.
Timber treatment wood protection chemicals used primarily in residential and commercial applications.
Water treatment products used to improve water purity in industrial, commercial and municipal applications.
Specialty automotive moulded components.

TiO₂

Titanium dioxide, a white pigment derived from titanium bearing ores with strong speciality business in fibres, inks, pharmaceuticals, food, and cosmetics.