ALTANA completes Rockwood's rheology business acquisition

The specialty chemicals group ALTANA has completed the acquisition of the rheology business of Rockwood Holdings Inc, which was announced on July 28, 2013, with the relevant antitrust authorities approving the acquisition. With the acquisition, ALTANA's sales are expected to reach about Euro 1.9 billion per annum. “The acquisition not only opens up new growth opportunities, it also emphasizes our strategy focusing on profitable growth and is fully in line with all our acquisition criteria,” stated Dr Matthias L Wolfgruber, CEO, ALTANA AG.
 
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In the context of the transaction ALTANA acquired the rheology business of Rockwood's Performance Additives segment for $ 635 million. The acquired business segment is one of the world's leading suppliers of rheology additives that optimise the flow characteristics of various materials. Rheology additives are used, among other things, in coatings, construction materials, and personal care products. They can, for example, ensure that coatings have the right viscosity and that they can be applied without forming droplets or bubbles.
 
As a result of the acquisition the number of the ALTANA Group's employees increased by 350 to 5,700. In addition to the administration department in Austin (Texas), four new production sites have been taken over: Gonzales (Texas), Louisville (Kentucky), Widnes (UK), and Moosburg (Germany). ALTANA will integrate the acquired rheology business into its BYK Additives & Instruments division.
 
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In order to underline the particular importance attributed to the acquisition and to optimally and smoothly manage the integration of the business, the BYK Additives & Instruments division in Wesel has expanded its management team. The new management of BYK-Chemie consists of Dr Christoph Schlunken (Chairman of the Management Board), Albert von Hebel, Gerd Judith, and now also Frank Wright, previously Managing Director of the acquired Rockwood business.