WESEL, Germany--(EON: Enhanced Online News)--The specialty chemicals group ALTANA has completed the acquisition of the rheology business of Rockwood Holdings, Inc. (NYSE: ROC). The acquisition was announced on July 28, 2013. The relevant antitrust authorities have approved the acquisition. With the acquisition ALTANA's sales are expected to reach about €1.9 billion per annum. "The acquisition not only opens up new growth opportunities, it also emphasizes our strategy focusing on profitable growth and is fully in line with all our acquisition criteria," stated Dr. Matthias L. Wolfgruber.
“BYK is part of one of the most innovative and high-growth specialty chemicals companies worldwide. We are a leading supplier of wetting and dispersing additives, of air-release, defoaming, and surface-improving additives, of wax additives – and now also of rheological additives.”
In the context of the transaction ALTANA acquired the rheology business of Roockwood's Performance Additives segment for a purchase price of USD 635 million. The acquired business segment is one of the world's leading suppliers of rheology additives that optimize the flow characteristics of various materials. Rheology additives are used, among other things, in coatings, construction materials, and personal care products. They can, for example, ensure that coatings have the right viscosity and that they can be applied without forming droplets or bubbles.
As a result of the acquisition the number of the ALTANA Group's employees increased by 350 to 5,700. In addition to the administration department in Austin (Texas), four new production sites have been taken over: Gonzales (Texas), Louisville (Kentucky), Widnes (UK), and Moosburg (Germany). ALTANA will integrate the acquired rheology business into its BYK Additives & Instruments division. Dr. Christoph Schlünken, President Division BYK: "BYK is part of one of the most innovative and high-growth specialty chemicals companies worldwide. We are a leading supplier of wetting and dispersing additives, of air-release, defoaming, and surface-improving additives, of wax additives – and now also of rheological additives."
Management team extended
In order to underline the particular importance attributed to the acquisition and to optimally and smoothly manage the integration of the business, the BYK Additives & Instruments division in Wesel extends its management team, with effect from today. The new management of BYK-Chemie consists of Dr. Christoph Schlünken (Chairman of the Management Board), Albert von Hebel, Gerd Judith, and now also Frank Wright, previously managing director of the acquired Rockwood business. For more information, please also see the adjoining Press Release.
This press release is also available at www.altana.com/press
ALTANA develops and produces high-quality, innovative products in the specialty chemicals business. The ALTANA Group, with headquarters in Wesel/Germany, is a genuine “global player” with about 85% of its sales generated by international activities. The ALTANA Group has four divisions: BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation, and ACTEGA Coatings & Sealants. All of these divisions occupy a leading position in their target markets with respect to quality, product solution expertise, innovation and service.
ALTANA offers innovative, environmentally compatible solutions with the matching specialty products for coating manufactures, paint and plastics processors, the printing and cosmetic industries, and the electrical and electronics industry. The product range includes additives, special coatings and adhesives, effect pigments, sealants and compounds, impregnating resins and varnishes, and testing and measuring instruments. At present, the ALTANA Group has 46 production facilities and more than 50 service and research laboratories worldwide. Throughout the group about 5,700 people work to ensure the success of ALTANA worldwide. In 2012, ALTANA achieved sales of more than 1.7 billion euros. Its impressive earning power and high growth rate make ALTANA one of the most successful and innovative chemical groups worldwide.