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Rockwood Completes Acquisition of the Pigments and Dispersions Business of Johnson Matthey PLC

Published on 2004-09-03. Author : SpecialChem

 

PRINCETON, N.J. -- Rockwood Specialties Group, Inc.'s subsidiary, Rockwood Pigments (UK) Limited, announced that it has completed the acquisition of the Pigments and Dispersions business of Johnson Matthey PLC for approximately $50 million.

The acquisition expands Rockwood's global pigments capabilities with a full range of transparent iron oxide pigments and dispersions, color concentrates and complex inorganic color pigments for the surface and wood coatings, plastics, building materials and printing inks markets. The Pigments and Dispersions business has 280 employees worldwide and had annual sales of approximately $70 million in 2003.

Seifi Ghasemi, Rockwood Chairman and C.E.O., said, "We are very excited about the future of our global pigments business. This acquisition is another example of our strong commitment to the creation of a world-class global specialty chemicals and advanced materials company dedicated to customer service, productivity and total commitment to excellence."

The acquisition includes manufacturing facilities in Kidsgrove, U.K., Sudbury, U.K., and Braeside, Victoria, Australia.

According to Ronald Rapaport, Managing Director of Rockwood's Pigments Division, "We welcome a very talented group of employees to the worldwide pigments organization. Our combined resources will enable us to offer customers an expanded technology base and a broader range of pigments and dispersions for their varied applications." The business will be managed by Andrew Ross, Managing Director of Rockwood Pigments Europe/Asia Pacific.

Rockwood utilized the remaining undrawn funds from the term loan portion of its senior credit facilities to finance this transaction.

Headquartered in Beltsville, Maryland, Rockwood's Pigments Division is one of the largest worldwide suppliers of synthetic iron oxide pigments to the construction, coatings, plastics and specialties markets. The Pigments Division is a subsidiary of Rockwood Specialties Group, Inc., Princeton, New Jersey, U.S.A.

Rockwood Specialties Group, Inc. is a leading global specialty chemicals and advanced materials company. Rockwood has a worldwide employee base of approximately 10,000 people and revenue of approximately $2.5 billion in 2003 on a pro forma basis. The company focuses on global niche segments of the specialty chemicals and advanced materials markets, including specialty chemicals, performance additives, pigments, advanced ceramics, custom synthesis, specialty compounds and electronics.

Except for historical information contained herein, the information set forth in this communication contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 concerning the business, operations and financial condition of Rockwood Specialties Group, Inc. and its subsidiaries ("Rockwood"). Words such as "anticipates," "believes," "estimates," "expects," forecasts," "predicts" and variations of such words or expressions are intended to identify forward- looking statements. Although Rockwood believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized. "Forward-looking statements" consist of all non-historical information, including the statements referring to the prospects and future performance of Rockwood and the acquisition of the Pigments and Dispersions business. Actual results could differ materially from those projected in Rockwood's forward-looking statements due to numerous known and unknown risks and uncertainties, including, among other things, the "Risk Factors" described in our 2003 Form 10-K on file with the Securities and Exchange Commission. Rockwood does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.

Source: Rockwood Specialties Group, Inc.


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