Rockwood Holdings, Inc. has completed the acquisition of the global color pigments business of Elementis. As previously disclosed, Rockwood paid approximately $140 million for Elementis color pigments and specialty paint driers business in North America, Europe and China. The acquired business had sales of approximately $172 million in 2006. The combined business will have annual revenues of approximately $500 million.
"This acquisition helps us further our strategy to grow both organically and by bolt-on acquisitions," said Seifi Ghasemi, Rockwood chairman and CEO. "Rockwood Color Pigments will now have a global production base that offers a full range of pigment products and services for concrete, coatings and other specialty applications. We will draw on Rockwood's strengths in yellow pigments and Elementis' expertise in reds. We will provide our customers global sourcing, through our strong production presence in China, in addition to world class facilities in the United States and Europe."
Andrew M. Ross, President of Rockwood Color Pigments, will head the combined organization.