Altana not buying Rockwood Holdings

Altana reiterated on Tuesday it has not been in talks to acquire U.S. chemicals group Rockwood Holdings, which is 40 percent owned by private equity group Kohlberg Kravis Roberts & Co KKR.UL.

Photo: Altana not buying Rockwood Holdings

"There have not been any talks with Rockwood or its shareholders," Chief Executive Matthias Wolfgruber told a news conference, adding that no meeting was planned.

Wolfgruber added, however, that the company had a merger and acquisition team in house that was permanently combing the market for attractive targets to grow the company.

Altana AG is a German chemical company based in Bad Homburg.

Altana AG develops and produces high-quality innovative products in the specialty chemicals business. Altana, with headquarters in Wesel, Germany, is a global player with 83% of its sales generated by international activities.

Altana has four divisions: BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation, and ACTEGA Coatings & Sealants. All of these divisions occupy a leading position in their target markets with respect to quality, product solution expertise, innovation and service.

Altana offers innovative, environmentally compatible solutions with the matching specialty products for coating manufactures, paint and plastic processors, the printing and cosmetic industries, and the electrical and electronic industry. The product range includes additives, special coatings and adhesives, effect pigments, sealants and compounds, impregnating resins & varnishes, and testing and measuring instruments.

As of 2007, Altana had 31 production facilities and 45 service and research laboratories worldwide. Throughout the group, 4,500 people work to ensure the success of Altana worldwide.

Rockwood Holdings, Inc. (Rockwood), incorporated in September 2000, is a global developer, manufacturer and marketer of value-added specialty chemicals and materials used for industrial and commercial purposes.

The Company's products consist primarily of inorganic chemicals and solutions, and engineered materials. Rockwood operates globally, manufacturing its products in 88 manufacturing facilities in 25 countries and selling its products and providing its services to more than 60,000 customers.

The Company operates its business through six business segments: Specialty Chemicals, Performance Additives, Titanium Dioxide Pigments, Advanced Ceramics, Specialty Compounds and Electronics.