Posted in | News | Plastics and Polymers | Business

Rockwood Holdings to Sell AlphaGary Plastic Compounding Business to Mexichem

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Dec 20 2010

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Rockwood Holdings, Inc. (NYSE: ROC) announced today that it has reached an agreement to sell its AlphaGary plastic compounding business to Mexichem S.A.B.de C.V. for $300 million in cash.

AlphaGary is the largest division in Rockwood’s Specialty Compounds segment.

Commenting on the transaction, Rockwood Chairman and CEO Seifi Ghasemi said that the company expects to use the proceeds of the sale to reduce debt. He added, "The completion of the sale of this compounding business is another step in concentrating our portfolio on high-margin specialty chemicals and advanced materials businesses. This sale will further enhance our overall Adjusted EBITDA margins, improve our leverage ratio and help maximize shareholder value."

AlphaGary manufactures specialty plastic compounds for the wire and cable business as well as medical applications and other uses. The transaction is subject to customary closing conditions, including regulatory approval, and Rockwood expects the transaction to close during the first quarter of 2011.

Source:

http://www.rocksp.com/

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