Rockwood UK subsidiary acquires pigment business
Rockwood, is set to acquire the pigments and dispersions business
of chemicals group Johnson Matthey.
Rockwood Pigments, the UK subsidiary of printing technology group Rockwood, is set to acquire the pigments and dispersions business of chemicals group Johnson Matthey.
The €41 million deal, which is subject to regulatory clearance, is expected to close by the end of the third quarter and will be financed from existing external financing sources.
"This acquisition is an important addition to our global pigments business and demonstrates Rockwood's ongoing commitment to the creation of a world-class global speciality chemicals company," said Rockwood chairman Seifi Ghasemi.
The pigments and dispersions business is a leading producer of colour concentrates and complex inorganic colour pigments. The business has 280 employees worldwide and annual sales of €57.6 million. The acquisition includes manufacturing facilities in the UK and Australia, as well as sales offices in other parts of the world.
"We are very excited to acquire this highly regarded business and to expand our technology base and range of pigments and dispersions for our worldwide customer base," said Ronald Rapaport, Rockwood Pigments division managing director.
"The business brings a motivated, experienced team to our organisation and will be managed by Andrew Ross, managing director of Rockwood Pigments Europe/Asia Pacific."
