Rockwood Holdings, Inc. (NYSE: ROC) announced that its subsidiary, Chemetall GmbH, headquartered in Frankfurt am Main, Germany, has completed the formal legal split of its operations into two independent legal entities.
Chemetall GmbH will remain the legal entity and brand name for the surface treatment business. The lithium and special metals business, already doing business under the brand name Rockwood Lithium, will be renamed Rockwood Lithium GmbH.
Commenting on this, Rockwood Chairman and CEO Seifi Ghasemi said, “By splitting these two different businesses into independent companies we are better positioned to focus on their individual strengths. With the rapidly expanding markets for lithium ion batteries and metal organic chemicals, and on the other hand for advanced metal surface treatment chemicals, we will better be able to successfully focus in these markets. Both companies will lead their industries in sophisticated products, high level customer service and sustainable production to satisfy customer needs.”
Rockwood Lithium GmbH is a global leader in lithium compounds and one of the largest lithium raw material producers. The company is also a leading provider of special metal compounds based on cesium, barium or zirconium.
Chemetall GmbH is a global leader in all facets of surface treatment products and technology. The company focuses its activities on the development and implementation of customized technology and system solutions for the treatment of surfaces with products for cleaning, giving corrosion protection, sealing, improving paint adhesion, and facilitating the forming and treatment of metals.
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Rockwood Holdings, Inc. is a leading global inorganic specialty chemicals and advanced materials company. Rockwood has a worldwide employee base of approximately 10,000 people and annual net sales of approximately $3.7 billion. The company focuses on global niche segments of the specialty chemicals, pigments and additives and advanced materials markets.
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