29 July 2013 16:20 [Source: ICIS news]
HOUSTON (ICIS)--Rockwood Holdings has agreed to sell its clay-based additives business to ALTANA Group for $635m (€476m), the US-based specialty chemicals producer said on Sunday.
The deal should close in the fourth quarter, pending approval by regulators, Rockwood said.
The clay-based additives segment produces rheology modifiers and additives, which are used to alter viscosity, thickness and flow characteristics, the company said.
The additives are used in industrial and architectural coatings, oil and gas drilling fluids, inks and household-care products among many others.
The segment has 340 employees at four plants in Gonzales, Texas; Louisville, Kentucky; Widnes, UK; and Moosburg, Germany.
ALTANA said it would integrate the segment into its BYK Additives & Instruments division.
The deal will allow ALTANA to expand its existing additives portfolio, it said.
($1 = €0.75)
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