Kemira Oyj's and Rockwood Holdings Inc.'s titanium dioxide (TiO2) joint venture Sachtleben GmbH has reached an agreement to acquire the TiO2 production assets and inventory of crenox GmbH, based in Krefeld, Germany, from the insolvency administrator. The acquisition is expected to close by mid-July, subject to completion of due diligence, government approvals and other conditions.
Sachtleben will acquire the crenox Krefeld-Uerdingen plant and all inventory of the facility. The acquisition will add over 100,000 metric tons of TiO2 production, increasing total capacity to approximately 340,000 metric tons, further enhancing Sachtleben's position as a leading global supplier of high quality TiO2 pigments.
The joint venture Sachtleben (Kemira ownership 39% in the joint venture), which was formed in August 2008 by combining Kemira Oyj's and Rockwood's TiO2 businesses, is a leading producer of specialty TiO2 pigments for the synthetic fiber, packaging inks, cosmetics, pharmaceutical and food industries.