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. * * * 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. For more information on Rockwood, please visit www.rocksp.com . The information set forth in this press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 concerning the business, operations and financial condition of Rockwood Holdings, Inc. and its subsidiaries and affiliates ("Rockwood"). Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "predicts" and variations of such words or expressions are intended to identify forward-looking statements. Although Rockwood believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized. "Forward-looking statements" consist of all non-historical information, including any statements referring to the prospects and future performance of Rockwood. Actual results could differ materially from those projected in Rockwood's forward-looking statements due to numerous known and unknown risks and uncertainties, including, among other things, the "Risk Factors" described in Rockwood's 2010 Form 10-K on file with the Securities and Exchange Commission. Rockwood does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts