Huntsman acquires Rockwood's Performance Additives, TiO2 businesses for $1.3 bn
Plans public offering of the Huntsman and Rockwood combined Pigments businesses within two years
BS B2B Bureau B2B Connect | The Woodlands, Texas, USA

Peter R Huntsman, President and CEO, Huntsman Corporation, commented, “This acquisition provides a unique opportunity to unlock value within our Pigments business and builds on the strong improvements we have made to its competitiveness. With this combination we will be better positioned to serve customers through a broader product range including colour pigments, functional additives and specialty TiO2 pigments. We will become the second largest global producer of TiO2 and inorganic colour pigments.”
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"In addition to creating a $3 billion Pigments leader, we believe this public offering will allow greater investor focus and appreciation for our differentiated businesses. These remaining divisions continue to enjoy record financial performance and global growth. We are well on our way to capturing the previously announced $220 million in annual savings through restructuring in our existing business and we have a number of capital projects underway that will increase our future earnings potential. Reducing our financial leverage remains a priority and we expect to return to our debt/EBITDA target ratio of 2 to 2.5 times by 2015."
Rockwood's Performance Additives and TiO2 business includes the manufacture and supply of sulphate process TiO2, synthetic iron-oxide and other organic pigments, timber treatment products and specialty automotive materials. Applications for these products are used in coatings, construction, concrete, plastics, papers, inks, food, cosmetics, pharmaceuticals, fibres and films.
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First Published: Sep 17 2013 | 5:15 PM IST