Jan 3 2008
OM Group, Inc. today announced that it has completed its previously announced acquisition of the electronics businesses from Rockwood Holdings, Inc. for approximately $315 million in cash, plus customary post closing adjustments. Included in the transaction is Rockwood's French electronic chemicals business which was originally subject to a put option that has since been exercised.
"This acquisition is another key step as we implement our long-range growth strategy," said Joseph M. Scaminace, chairman and chief executive officer. "The addition of Rockwood's electronics businesses expands our electronic chemicals growth platform and broadens our reach into high-growth markets around the world."
With 2006 revenues of approximately $187 million, Rockwood's electronics businesses supply customers with chemicals used in the manufacturing of semiconductors and printed circuit boards, as well as photo-imaging masks primarily for semiconductor and photovoltaic manufacturers.
OM Group's long-range growth strategy includes continued product innovation, as well as tactical and strategic acquisitions. The strategy is part of a transformational process designed to deliver sustainable and profitable volume growth, drive consistent financial performance and build long-term shareholder value.