10 January 2011 16:06 [Source: ICIS news]
HOUSTON (ICIS)--Rockwood Holdings has closed on the sale of its AlphaGary plastic compounding business to Mexichem for $300m (€234m) in cash, the US-based international specialty chemicals firm said on Monday.
The sale closed effective 7 January, Rockwood said.
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, the company had said.
AlphaGary had $224.6m in net sales for the 12 months ended 30 September.
Rockwood said it would use proceeds of the sale to reduce debt.
($1 = €0.78)
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