Acquired Rockwood assets will not be divested: Huntsman CEO

17 September 2013 17:17  [Source: ICIS news]

HOUSTON (ICIS)--Huntsman does not plan to divest any parts of the titanium dioxide (TiO2) and performance additives businesses it has agreed to acquire from Rockwood, the CEO of the US-based chemicals firm said on Tuesday.

Under the deal announced earlier on Tuesday, Huntsman will acquire Rockwood’s TiO2 business, as well as water treatment, timber treatment, specialty auto materials and colour pigments businesses. Not included is a clay-based additives business Rockwood sold to Germany’s ALTANA.

“Personally, I don’t have any plans to see any divestitures,” CEO Peter Huntsman told analysts in a webcast briefing.

“All of these are great businesses,” he said, adding that they will either be part of a planned initial public offering (IPO) or may, in some cases, fit in with Huntsman’s other operations.

Huntsman plans integrate the Rockwood assets with its own TiO2 business before listing the combined TiO2 business in an IPO within two years after closing the acquisition.

The Rockwood deal is expected to close in the first half of 2014, subject to regulatory approvals.

Additional reporting by Graeme Paterson in London

By: Stefan Baumgarten
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