Süd-Chemie AG, Munich, Germany reached an agreement Oct. 19 with Rockwood Specialties Group Inc., Princeton, NJ, to sell its Performance Additives Business Unit, which produces rheological additives for the paints and coatings industry. The sale includes Süd-Chemie’s additive business for carbonless copying paper.
Rockwood will acquire both the technology and the brand rights to these activities, as well as the production facilities for rheological additives. Sales of the businesses amount to approximately €42 million ($49 million). The 125 staff in the rheological sector, employed mainly in Moosburg, Germany and Kentucky, will be taken over by Rockwood.
By selling these operations, Süd-Chemie is optimizing its portfolio to focus on its core competencies in the sectors of catalysts, food and feed additives, products for foundries and performance packaging, as well as energy and environmental technology.