Rockwood Holdings To Sell Clay Based Additives Biz For $635 Mln

(RTTNews) - Specialty chemicals company Rockwood Holdings Inc. (ROC) has agreed to sell its clay based additives business to Germany-based Altana Group for $635 million. The deal is expected to close during the fourth quarter, subject to certain regulatory approvals.

Clay based additives segment develops and manufactures a range of specialty rheology modifiers and additives. The business, a part of Rockwood's performance additives business, generated sales of $191.4 million in 2012.

"The sale of clay based additives is another step forward in the implementation of our long term business strategy to maximize shareholder value," said Seifi Ghasemi, Chairman and Chief Executive Officer.