NYSE-listed Huntsman Corporation said it has completed the acquisition of the Performance Additives and Titanium Dioxide (TiO2) businesses of Rockwood Holdings, Inc.
Huntsman paid approximately $1 billion in cash and assumed certain unfunded European pension liabilities.NYSE-listed Huntsman Corporation said it has completed the acquisition of the Performance Additives and Titanium Dioxide (TiO2) businesses of Rockwood#
According to CEO - Peter Huntsman, it will be immediately accretive to its earnings before synergies of $130 million and provides further optionality for its pigments business.
The majority of earnings of Rockwood Holdings over the past 12 months have come from their specialty and niche TiO2 businesses, demonstrating the diversity and breadth of the business, Huntsman is acquiring.
“With the addition of the Rockwood businesses, we are well on our way to achieving our EBITDA goal of $2 billion within the next couple of years,” Peter Huntsman added.
“The addition of specialty TiO2 and performance additives will broaden our product offering and further enable our ability to build the most competitive pigments and additives business in the world,” he informed.
Huntsman Corporation is a global manufacturer and marketer of differentiated chemicals with 2013 revenues of approximately $13 billion.
It operates more than 100 manufacturing and R&D facilities in more than 30 countries and employs approximately 15,000 associates within its five distinct business divisions. (AR)
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