Rockwood Holdings, Inc. has completed the acquisition of the global color pigments business of Elementis plc. As previously disclosed, Rockwood paid approximately $140 million for Elementis’ color pigments and specialty paint driers business in North America, Europe and China. The acquired business had sales of approximately $172 million in 2006. The combined business will have annual revenues of approximately $500 million.
In announcing the transaction, Seifi Ghasemi, Rockwood chairman and CEO said, “This acquisition helps us further our strategy to grow both organically and by bolt-on acquisitions. The combinations of these two market leaders in iron-oxide pigments creates a strengthened global business that will provide added value to our customers through its complementary product portfolio, balanced geographic footprint, competitive manufacturing capabilities and talented global workforce.