WESEL, Germany - The specialty chemicals group ALTANA has completed its acquisition of the rheology business of Rockwood Holdings Inc. Relevant antitrust authorities have approved the acquisition, which was announced on July 28, 2013. With the acquisition ALTANA's sales are expected to reach about €1.9 billion per year.
ALTANA acquired the rheology business of Roockwood's Performance Additives segment for a purchase price of $635 million. The acquired business segment is one of the world's leading suppliers of rheology additives that optimize the flow characteristics of various materials.
The acquisition increased ALTANA Group's employees by 350 to 5,700. In addition to the administration department in Austin, TX, four new production sites have been taken over: Gonzales, TX; Louisville, KY; Widnes, UK; and Moosburg, Germany. ALTANA will integrate the acquired rheology business into its BYK Additives & Instruments division.
In order to manage the integration of the business, the BYK Additives & Instruments division in Wesel has extended its management team. The new management of BYK-Chemie consists of Dr. Christoph Schlünken (Chairman of the Management Board), Albert von Hebel, Gerd Judith, and Frank Wright, previously Managing Director of the acquired Rockwood business.