Home / Knowledge / News / Textiles / Kemira & Rockwood to form leading TiO2 joint venture
Kemira & Rockwood to form leading TiO2 joint venture
24
May '08
Kemira Oyj and Rockwood Holdings Inc have agreed to form a joint venture that includes both parties´ titanium dioxide businesses and the functional additives business owned by Rockwood.

The transaction values Kemira's TiO2 business in excess of EUR 250 million and will result in a small capital gain for Kemira. In addition, the transaction will have a positive cash flow effect and reduce Kemira´s net debt by appr. EUR 120 million. The deal is subject to approval by the competition authorities and is expected to close during Q3 in 2008.

The new joint venture will include Rockwood´s titanium dioxide pigments and functional additives businesses, including its production facilities in Duisburg, Germany and Kemira´s titanium dioxide business, including Kemira´s titanium dioxide plant in Pori and Kemira´s technical research center specializing in TiO2 products in Oberhausen, Germany and its US subsidiary, Kemira Specialty, Inc Kemira´s TiO2 business had a turnover of appr. EUR 230 million in 2007 and operative EBITDA of slightly less than 14 %.

The new specialty titanium dioxide company will be headquartered in Germany and had a pro forma turnover of appr. EUR 560 million in 2007. The new company will have a yearly production capacity of around 240 000 tons of titanium dioxide and it will employ around 1 700 employees. Rockwood will own 61 % and Kemira 39 % of the new joint venture.

“This joint venture is an excellent way of developing the valueof our titanium dioxide business and it will provide a good platform for synergy creation e.g. through better capacity utilization” says Harri Kerminen, CEO of Kemira Group. “The new company will be a highly specialized titanium dioxide producer with strong market positions in global niche market segments. It will be the leading provider of titanium dioxide pigments for textile, packaging ink and cosmetics industries worldwide”, Kerminen continues.


Must ReadView All

Textiles | On 22nd Aug 2017

Cotton yarn futures trading begins in China’s Zhengzhou

Cotton yarn futures trading recently began on the Zhengzhou Commodity ...

Textiles | On 22nd Aug 2017

PTEA concerned over sluggish textile sector growth

The Pakistan Textile Exporters Association (PTEA) has expressed...

Textiles | On 22nd Aug 2017

Asian Propylene prices march higher last week

Propylene prices went up in Asia in the last week due to tight supply ...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search