17 December 2010 14:38 [Source: ICIS news]
TORONTO (ICIS)--Rockwood Holdings has agreed to sell its AlphaGary plastic compounding business to Mexichem for $300m (€228m) in cash, the US-based international specialty chemicals firm said on Friday.
AlphaGary, which makes specialty plastic compounds for the wire and cable business as well as medical applications and other uses, was the largest division in Rockwood’s specialty compounds segment, it said.
"The completion of the sale of this compounding business is another step in concentrating our portfolio on high-margin specialty chemicals and advanced materials businesses,” said CEO Seifi Ghasemi.
Rockwood expected to complete the deal in the first quarter of 2011, subject to regulatory approval and closing conditions, it said.
($1 = €0.76)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections