11 June 2012 12:52 [Source: ICIS news]
LONDON (ICIS)--Kemira and Rockwood Holdings' titanium dioxide (TiO2) specialty pigments joint venture Sachtleben has struck a deal to acquire the TiO2 production assets and inventory of Germany's Crenox from the insolvency administrator, Kemira said on Monday.
The acquisition will boost Sachtleben's TiO2 capacity by more than 100,000 tonnes/year to 340,000 tonnes/year, it added.
Sachtleben will acquire the Crenox plant at the ?xml:namespace>
The acquisition is expected to close by mid-July, subject to completion of due diligence, government approvals and other conditions, it added.
No financial details of the acquisition were disclosed.
The Sachtleben joint venture, 39% owned by Kemira, was formed in August 2008 by combining Kemira and New Jersey-based Rockwood's TiO2 businesses.
It is a producer of specialty TiO2 pigments for the synthetic fibre, packaging inks, cosmetics, pharmaceutical and food industries.
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