04 September 2013 13:46 [Source: ICIS news]
HOUSTON (ICIS)--Rockwood has completed the €1.49bn ($1.96bn) sale of its CeramTec business to private equity firm Cinven, the US specialty chemicals producer said on Wednesday.
Rockwood had announced the sale of the business in June.
The company said it received cash proceeds of $1.75bn from the sale. Rockwood will use part of the proceeds to reduce its debt, it added.
Germany-based CeramTec is a global producer of high performance advanced ceramics materials and products. The business has a staff of about 3,000 people, working at 18 facilities worldwide.
($1 = €0.76)
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