July 28 German specialty chemicals group Altana
said on Sunday it had agreed to buy the global rheology business
of U.S. chemicals maker Rockwood Holdings Inc. for $635
million to expand its additives portfolio.
With the acquisition - expected to close in the fourth
quarter of 2013 - Altana's sales are expected to reach about 1.9
billion euros from more than 1.7 billion euros in 2012, Altana
Rheology additives are used in coatings, construction
materials and personal care products.
The business is part of Rockwood's additive division, which
it had bundled with its titanium dioxide business.
In March it had put the bundled unit on the block, only to
dissolve the combination later.
This month Rockwood has revived its efforts to hive off its
titanium dioxide unit and is in talks with prospective buyer
Huntsman Corp., two people familiar with the matter told
Reuters on July 2.