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Rockwood Press Release
Rockwood Agrees to Acquire
Global Pigments Business of Elementis
Princeton, NJ USA (May 11, 2007) – Rockwood Holdings, Inc. (NYSE: ROC) today announced that Rockwood has signed a definitive agreement to acquire the global color pigments business of Elementis plc (LSE: ELM) for approximately $140 million. The business had sales of approximately $172 million and EBITDA of $18 million in 2006.
The transaction includes Elementis production facilities in the United States, the United Kingdom and in China. The transaction is subject to approval by appropriate regulatory authorities.
In announcing the transaction, Seifi Ghasemi, Rockwood Chairman and Chief Executive Officer, said, “This acquisition is in keeping with our strategy to grow both organically and by bolt-on acquisitions. The expected synergies with the Elementis business will give us the ability to serve our customers on a more cost-effective basis.”
He added, “The combination of our color pigment business with that of Elementis will result in a leading global producer of color pigments, with a more cost-effective production base and a full range of products and services for concrete, coatings and other specialty applications. The two companies have complementary product lines and production facilities, providing customers with a broader choice as well as global sourcing. The combined business will have expanded production presence in China, in addition to the United States and Europe.”
Rockwood Holdings, Inc. is a leading global specialty chemicals and advanced materials company. Rockwood has a worldwide employee base of approximately 9,500 people and annual net sales of approximately $3.0 billion. The company focuses on global niche segments of the specialty chemicals, pigments and additives and advanced materials markets. For more information on Rockwood, please visit www.rocksp.com.
The information set forth in this press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 concerning the business, operations and financial condition of Rockwood Holdings, Inc. and its subsidiaries and affiliates ("Rockwood"). Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "predicts" and variations of such words or expressions are intended to identify forward-looking statements. Although Rockwood believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized. "Forward-looking statements" consist of all non-historical information, including any statements referring to the prospects and future performance of Rockwood. Actual results could differ materially from those projected in Rockwood's forward-looking statements due to numerous known and unknown risks and uncertainties, including, among other things, the "Risk Factors" described in Rockwood's 2006 Form 10-K on file with the Securities and Exchange Commission. Rockwood does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
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