In a cash deal hovering $1 billion, plus assumption of overseas pension liabilities, The Woodlands, Texas-based Huntsman Corp. has closed on Rockwood Holdings’ Titanium Dioxide and Performance Additives businesses, the latter including legacy concrete pigment producer Davis Colors of Los Angeles.
Successful completion of the acquisition, notes CEO Peter Huntsman, “Better positions our company[,] will be immediately accretive to our earnings … and provides further optionality for our pigments business. Performance Additives will broaden our product offering and further enable our ability to build the most competitive and successful pigments business in the world.”
In addition to the Davis Colors and related synthetic iron-oxide and inorganic pigment operations, Rockwood Performance Additives businesses joining Huntsman Corp. span production of inorganic compounds used to enhance colors in food, cosmetics, pharmaceuticals, plastic and paper; timber treatment wood protection chemicals; and, water treatment products. The Titanium Dioxide business specializes in a widely used white pigment derived from titanium-bearing ores.